XYZ Broker-dealer is a subsidiary of ABC Financial Services. XYZ Broker-dealer trades based on insider information and manages to avoid losses of $300,000 due to those trades. What is the maximum civil penalty that may be imposed on ABC Financial Services due to the insider trading?

None, ABC Financial Services is not responsible for XYZ Broker-dealer's actions

Chloe enters a buy Limit on Close Order on the Nasdaq-traded stock XYZ at 75 at 1:00 PM. At 1:00 PM, the stock is trading at 73. At 2:30, the stock suddenly shoots up to 76. At the Closing Cross, the price is set at 74. When will Chloe's order be executed?

Chloe's order will not be executed

Which of the following is the difference between STGY and SCAN routing options?

Once a STGY order is on the book, if the order is locked or crossed by another market center, the order is routed to that market center

STGY is a routing option for orders to participate in the NYSE or NYSE Amex opening or closing processes

STGY instructs the System to bypass any market centers included in the SCAN System routing table that are not posting Protected Quotations

Which of the following is not true of an ECN?

ECNs can act in an agency or a principal capacity

ECNs allow institutional investors to trade with other investors excluding the broker as a go-between

Subscribers to an ECN may include institutional investors, broker-dealers and market makers

ECN traders can remain anonymous

Series 55 Sample Quiz

FINRA Equity Trader Qualifications Exam

Number of Questions	10
Time Duration	Untimed
Answer Feedback Instant validation and rationale
Percentage required to pass	70%

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