This month’s study question from the Solomon Online Exam Simulator question database is now available!
***Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.***
Question (Relevant to the Series 7, Series 24, and Series 62): When a transaction is executed at 3:00pm Eastern Time, what are the TRACE reporting requirements (assuming the transaction is not a list or fixed offering price transaction, a takedown transaction, or an asset-backed securities transaction)?
Answers:
A. It must be reported within 10 seconds of execution
B. It must be reported within 15 minutes of execution
C. It must be reported within 30 seconds of execution
D. It must be reported by 8:15 on the next business day
Correct Answer: B. It must be reported within 15 minutes of execution
Rationale: Transactions executed between 8:00 am and 6:15 pm must be reported to TRACE within 15 minutes of execution, and do not receive a designation.
Congratulations to Jessi B., this month’s Study Question of the Month winner!
***Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.***
b
I think the answer is B. 15mins. Thank you