Series 52: Exercise

Exercise

Choose the correct answer.

1. 1. Each municipal securities dealer must inspect each branch office that inspects other non-branch offices at least _____.
2. A. Quarterly
3. B. Annually
4. C. Every three years
5. D. Every four years
6. 2. Which of the following is most likely to be considered a branch office?
7. A. A private residence where an employee works by himself
8. B. A vacation home where the registered representative works for 45 business days a year
9. C. A location primarily used for non-securities activities, but from which 25 securities transactions are effected per year
10. D. The floor of a registered exchange
11. 3. A dealer’s written supervisory procedures must ensure that all of the following customer account activity is reviewed except:
12. A. A customer’s change of address
13. B. Any and all customer account activity conducted by the firm’s producing managers
14. C. A customer’s change of investment objectives
15. D. Any and all transmittals of customer funds or securities

Answers