Exercise
Choose the correct answer.
1. Each municipal securities dealer must inspect each branch office that inspects other non-branch offices at least _____.
A. Quarterly
B. Annually
C. Every three years
D. Every four years
2. Which of the following is most likely to be considered a branch office?
A. A private residence where an employee works by himself
B. A vacation home where the registered representative works for 45 business days a year
C. A location primarily used for non-securities activities, but from which 25 securities transactions are effected per year
D. The floor of a registered exchange
3. A dealer’s written supervisory procedures must ensure that all of the following customer account activity is reviewed except:
A. A customer’s change of address
B. Any and all customer account activity conducted by the firm’s producing managers
C. A customer’s change of investment objectives
D. Any and all transmittals of customer funds or securities
Answers
1. B. Each municipal securiti