Series 7: 14.6.4 DVP/RVP Accounts

Taken from our Series 7 Top-off Online Guide

14.6.4 DVP/RVP Accounts

Delivery vs. payment (DVP), or cash on demand, simply means that delivery and payment must occur simultaneously. Receive vs. payment (RVP), or cash on delivery, is its counterpart. DVP means that a buyer does not have to pay for its purchased securities until it receives them. RVP means that a seller will not receive payment in cash until it delivers them.

A DVP/RVP account must be approved by a registered clearing agency that uses an automated confirmation and acknowledgment system. DVP accounts are generally reserved for institutional customers and dealers, whose trading activity involves large sums of money, large numbers of transactions, and a significant number of invol

+ Read More

More Series 7 Info

What are people saying?

Create an Account

Since you're reading about Series 7: 14.6.4 DVP/RVP Accounts, you might also be interested in:

Series 66 - 6.5.1 Buy and Sell Orders

Series 52 - 8.4.1.1.3. Books and Records Rules (Exchange Act Rules 17a-3 and 17a-4)

Series 51 - Change in Status

Series 50 - Government-Wide Statements

Series 82 - Effect of a Registered Representative’s Suspension, Revocation, Cancellation, or Bar

Series 7 - 9.4.1.1.1 Gross Profit

Series 6 - 7.1.2.7. Call Risk

Series 53 - Lead Underwriter Disclosure Responsibilities to Syndicate

Series 27 - Regulatory Notification and Business Curtailment

Series 65 - Estate Accounts

Series 27 - Office of Supervisory Jurisdiction (OSJ)

Series 65 - Alternative Plans for Educational Savings

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

After a lengthy absence from the securities industry, I again needed to get licensed. With the great help of Solomon, I did the SIE, Series 7, Series 63, and Series 82, in just over 5 months. The materials are comprehensive and I would recommend reading it all at least twice. Have realistic goals and meet them. Don't take too many days off as the quicker you learn the material the less likely your are to forget the initial stuff. I found the "Ask the Professor" feature to be particularly helpful (and responsive!). I hope I don't need further exams any time soon but, if I do, I will use Solomon.

Shawn Sullivan Charlestowne Securities Darien, CT

Thank you so much for your great study materials! I have used you to pass my Series 6, 63 and most recently my Series 7 all on the first try. The practice exams and video lectures were great and extremely helpful. Will definitely be using your study material for any future exams and will recommend you to other people

Louis Orsatti, NY LIFE Securities, Boston, MA

Solomon is the BEST!!! Passed the Series 7 on the first try. The lessons are videos and lessons are good. The practice exams are EXCELLENT. Focus on options and muni's. Load up on practice exams and you will be fine. Thank you Solomon!!!

Brandon Collins, Benchmark. Memphis, TN

I passed first try! Three hours and forty-five minutes might seem like a long time, but it flew by. The Solomon Exam Prep conditioned me very well. Utilizing the chapter quizzes and practice exams really helped apply my learning, and also helped with time management. (Series 7)

Ryan Thibault, PNC Investments. Lakewood, OH.

I had a super rough go passing this (Series 7) exam due to a number of personal circumstances, but on my third attempt, I finally passed, with 30 minutes to spare! After my second failed attempt (I failed by ONE question), I spoke to Jeremy Solomon on the phone and via email, and he provided me with some strategies to help me pass the exam once and for all. I focused heavily on rereading the study guide, and teaching concepts to my spouse so that I wasn’t just learning the information, but really understanding it to the point where I could teach it to someone else. The exam simulators are super helpful, but don’t overdo it… this really isn’t the kind of test where you can only learn by doing practice questions. Re-watching the video lectures was very helpful for me as well. I also recommend making flash cards for memorization purposes. If you fail like me, don’t give up - perseverance (and more studying) will get you to the finish line!

Molly Magnuson, CBIZ Retirement & Investment Solutions. Kansas City, MO

I found Solomon Exam Prep from a general comment that probably came from someone who works for the company. It went along the lines, "Solomon Exam Prep also has study materials for the 7" (goes to show you that inbound marketing works) I tried the STC program that most firms provide, mine included. Didn't like it, and many people on the forum that went that route mentioned they didn't feel adequately prepared for the real exam. In the STC program you can only take each quiz and practice exam 1 time. Also tried Kaplan's cheap 2 test simulation package but despised the components of the simulation, the mark for review button didn't let me go back to review the test before submitting it, and it took forever to "save" my answers before moving on to the next question. It was just a badly developed program. It wasn't improving my scores nor did it help me to better understand the material. I tried Solomon's out because it was comparable in price to Kaplan's exam simulation program but I hate Kaplan's simulator. solomon's had a larger question bank, and both provided unlimited tests which was my real requirement. Loved Solomon's exam simulator program from the start, and the Finra Concept tests combined with the simulation exams is what really improved my score. Solomon will be the only company I use to prepare for all exams I may have in the future and I highly recommend it. Solomon got a life-long repeat customer all because of a generic comment from a random forum.

Alex