Exercise
Answer True or False
1. True or false. If a firm discovers that its net capital is less than 100% of its required minimum, it must notify FINRA and the principal and regional offices of the SEC within 24 hours of its discovery.
2. True or false. Carrying firms must have at least 250,000 in net capital.
3. True or false. Dealers are required to maintain a $100,000 net capital.
4. True or false. If a market maker’s bid price for a security is $10 or less, it must carry $1,000 in net capital per security.
5. True or false. The alternative net capital requirement is typically preferred by smaller firms
6. True or false. Under the alternative net capital requirement, a firm must keep a minimum amount of net capital equal to the greater of $25