Series 63: Exercise

Exercise

Answer Yes or No—Has Proper Supervision Taken Place?

1. _____ An agent of a broker-dealer commits securities fraud; however, the broker-dealer has an appropriate supervisory system in place.

2. _____ An agent of a broker-dealer has a spotless record on all transactions she has effected, but she has not attended a compliance meeting in the past 18 months.

3. _____ A firm has a set of procedures, each of which follows FINRA and SEC guidelines, yet those procedures have not been put in writing.

Answers

1. Yes. As