Series 82: Chapter 4 Practice Question Answers

Chapter 4 Practice Question Answers

1. 1. Answer: A. FINRA Rule 8310 makes it possible to impose sanctions on a person associated with a member. These sanctions include censure, suspension, imposition of fines, expelling of the person, a temporary cease and desist order, and other fitting sanctions. Sanctions do not include jail.
2. 2. Answer: A. FINRA may fine the alleged violator up to $2,500.
3. 3. Answer: B. If the member firm or associated person does not dispute a violation, the Department of Enforcement or Department of Market Regulation may request that the respondent execute a letter of Acceptance, Waiver, and Consent. The letter must describe the act or practice under complaint, the rule or regulation violated, and the sanctions to be imposed. If the member or associated person executes the AWC letter, it will be submitted to the National Adjudicatory Council for approval. If the NAC accepts the letter, the matter will be deemed final, and the letter itself wil