October Study Question of the Month

Once a year FINRA member firms must provide in writing (which may be electronic) to each customer all of the following items of information except: Continue reading

 

 

 

Once a year FINRA member firms must provide in writing (which may be electronic) to each customer all of the following items of information except:

  1. FINRA BrokerCheck phone number
  2. FINRA website address
  3. A statement as to the availability to the customer of an investor brochure that includes information describing FINRA BrokerCheck
  4. The SEC website address

 

 

 

 

 

 

 

 

 

Series 54 Pilot Results to be released soon, Says MSRB

At the 2019 National Association of Municipal Advisors annual conference in Chicago, Gail Marshall of the MSRB announced that results of the MSRB Series 54 Municipal Advisor Principal pilot exam will be released the week of October 7, along with a final Series 54 exam outline. Continue reading

At the 2019 National Association of Municipal Advisors annual conference in Chicago, Gail Marshall of the MSRB announced that results of the MSRB Series 54 Municipal Advisor Principal pilot exam will be released the week of October 7, along with a final Series 54 exam outline.

According to Marshall, the Series 54 exam will launch in November and firms will have till November 2020 to fulfill their Series 54 requirements.

Individuals who took the Series 54 pilot will be informed whether they passed or failed via an email. Those who passed will not receive a score, those who failed will receive some statistical information about their performance on the Series 54 pilot, according to Marshall of the MSRB.  Pass/fail information will not be released publicly.

Jeremy Solomon, president of Solomon Exam Prep, notes that anyone interested in taking the Series 54 Municipal Advisor Principal Exam must first pass the MSRB Series 50 Municipal Advisor exam.

Solomon Exam Prep has helped thousands pass FINRA, NASAA and MSRB securities licensing exams including the SIE and the Series 3, 6, 7, 14, 24, 26, 27, 28, 50, 51, 52, 53, 54, 63, 65, 66, 79, 82 and 99.

September Study Question of the Month

Which of the following statements is most accurate regarding cross-transactions between accounts at a broker-dealer? Cross-transactions only create a potential conflict of interest for investment advisers. Continue reading

 

 

Which of the following statements is most accurate regarding cross-transactions between accounts at a broker-dealer?
 
 
 
  1. Cross-transactions only create a potential conflict of interest for investment advisers.
  2. Broker-dealers are prohibited from engaging in cross-transactions.
  3. Cross-transactions are prohibited under all circumstances.
  4. Cross-transactions between accounts at a broker-dealer create conflict-of-interest risk.
Answer: D. Cross-transactions are direct transactions between two different clients with the same firm. For a broker-dealer, this creates a fairly obvious conflict of interest — the firm must execute transactions that are suitable for each customer, but there is a risk that the same transaction will benefit one client more than the other. A firm that engages in cross-transactions must obtain a signed waiver from its clients annually that acknowledges the activity.

Solomon Series 65 Flashcard App Now Available

The NASAA Investment Adviser Law Exam, also known as the Series 65 exam, has a tough reputation for a reason: it consists of 140 questions Continue reading

The NASAA Investment Adviser Law Exam, also known as the Series 65 exam, has a tough reputation for a reason: it consists of 140 questions that cover a wide range of financial and legal topics including monetary policy, interest rates, time value of money, statistics, valuation methods and ratios, types of risks, equity and fixed income securities, derivatives, portfolio management, taxes, capital market theory, trading, state and federal regulations of investment advisers and broker-dealers and more!

Thanks to Solomon Exam Prep’s relentless pursuit of new and better ways to help individuals pass the Series 65 and other securities exams, passing the Series 65 has never been easier. 

Now you can learn key definitions and concepts on the Series 65 with Solomon Exam Prep Series 65 exam Digital Flashcards. Includes over 650 digital cards featuring clear,easy to understand definitions and a rating feature allows user to customize deck for targeted learning.  Also, if you want audio assistance, you can turn on text-to-speech and listen while you learn.

 Available for $29.95 or buy a Solomon Series 65 Study Package … and get the Solomon Series 65 Digital Flashcards for free!