Series 7: 17.5.2.2 Clearance And Settlement For Trades Cleared Manually

Taken from our Series 7 Top-off Online Guide

17.5.2.2 Clearance and Settlement for Trades Cleared Manually

For over-the-counter securities that do not meet the financial and liquidity requirements to be cleared electronically through a clearinghouse such as the NSCC, clearance and settlement must be done manually by brokerage firms’ purchase and sales departments. The Uniform Practice Code describes the process that must be followed.

Over-the-counter debt transactions between members must be cleared through a registered clearing agency.

For trades that are

+ Read More

More Series 7 Info

What are people saying?

Create an Account

Since you're reading about Series 7: 17.5.2.2 Clearance And Settlement For Trades Cleared Manually, you might also be interested in:

Series 63 - Exercise

Series 65 - 10.9.3. 12b-1 Fees

Series 65 - Limited Partnerships

Series 54 - 3.1. Municipal Advisor Registration Requirements

Series 24 - 1.2.5.7. Active Military Service

Series 65 - 10.11.16.8 Applicability to Pooled Investment Vehicles

Series 7 - 18.4.2 Dispute Resolution Procedures

Series 82 - 3.5.1. Financial Exploitation of Vulnerable Adults

Series 27 - Exercise

Series 7 - 10.3.1 Beta

Series 24 - Safe Harbor for Statements by Issuers

Series 53 - Negotiated Sale Authorization

SIE - Hedging with Covered Calls and Puts to Increase Income

Series 99 - 2.4.2 Six-Year Records

Series 26 - Networking Arrangement Guidelines

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

I would not have passed the Series 7 top off without the Solomon materials. The structure of the questions was the closest out of all the programs I tried and their customer support is top notch. I will definitely be back! Thank you!!

Lauren J, Westlake, TX

A more recent update after taking my Series 7 exam: Within one year of joining the financial industry, Solomon materials have gotten me a 100%, 4 for 4 pass rate with the SIE, S6, 63 and S7 all completed within 10 months. Once again, the materials and practice tests prepared me for the S7 exam better than I could've imagined. I will continue to refer people to Solomon, as the material, customer service, and whole experience has been unmatched.

Alex Coyne, Northwestern Mutual. Pensacola, FL

Just passed the Series 7 on the first attempt! Many questions on the FINRA exam forced me to consider scenarios from a different perspective, and the conceptual understanding the Solomon materials and study plan facilitated allowed me to apply my knowledge appropriately. If I need another license in the future, I'll rely on Solomon to help me prepare.

Dave Stakland Cambridge Investment Research Fairfield, IA

In preparation for the Series 7, I began with Kaplan. I tested and did not pass. I then switched to STC materials. I tested and did not pass. I then switched to Solomon and passed! I also used Solomon for the 63 and passed the first time. I highly recommend Solomon's test preparation materials. The question bank was far more extensive than the others and I definitely felt better prepared using Solomon.

Kara S, CLS, Carrollton, TX

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