Series 24: Review Quiz

Review Quiz

1. 1. According to the Uniform Practice Code, when a customer places an order, the customer’s broker-dealer must send a written confirmation of the transaction to the broker-dealer on the other side of the transaction; this confirmation must occur within:
2. A. 3 business days of the trade date
3. B. 4 business days of the trade date
4. C. 5 business days of the trade date
5. D. 1 business day of the trade date
6. 2. Which of the following constitutes “good delivery” for a trade involving 380 shares of stock?
7. A. four certificates for 80 shares and one certificate for 60 shares
8. B. four certificates for 80 shares and three certificates for 20 shares
9. C. four certificates for 90 shares and two certificates for 10 shares
10. D. two certificates for 100 shares and two certificates for 90 shares
11. 3. How soon may a buyer initiate a buy-in in the event that a seller does not deliver securities promised to the buyer?
12. A. not more than 3 business days after the delivery was due
13. B. not sooner than 3 business days after the delivery was due
14. C. not more than 5 business days after the delivery was due
15. D. not sooner than 5 busin