October Study Question of the Month

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card. Continue reading

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.

Question

Relevant to the Series 7Series 62, Series 65Series 79, Series 82, and Series 99.

 

 

 

 

 

What is the holding period for restricted securities issued by a company that files reports with the SEC?
 
A. Six months
B. Nine months
C. Twelve months

D. Securities issued by a company that files with the SEC are never restricted

Answer: A. Rule 144 requires purchasers of restricted securities to hold them for a certain amount of time before they sell them. If the issuer is a company that files reports with the SEC, the holding period is six months. If the issuer is a non-reporting company, the holding period is 12 months.

September Study Question of the Month

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card. Continue reading

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.

Question

Relevant to the Series 62, Series 79, and Series 82.

 

 

 

 

 

Which of the following is an advantage of a 506(b) offering?
 
A. Sold shares are not restricted
B. It may be advertised to the public because it is considered a public offering
C. Instead of a prospectus, it may use a briefer document called an offering circular

D. It has no dollar limit

Answer: D. A private placement offering under Regulation D, Rule 506(b) has no dollar limit. The other three responses are advantages of Regulation A offerings.

TESS of the FINRA

The 2018 FINRA Exam Restructuring is right around the corner, and it means changes for more than the exams themselves. Continue reading

The 2018 FINRA Exam Restructuring is right around the corner, and it means changes for more than the exams themselves. FINRA allows anyone 18 and older to take the new Securities Industry Essentials Exam (SIE). That means you can take the SIE exam without being employed by a FINRA member firm.

This makes it a lot easier for people to enter the securities industry, but it also means that FINRA needs a new way for individuals to register for the SIE.

Enter TESS.

TESS stands for Test Enrollment Services System.

Through TESS you can request an exam, make payments, schedule an appointment, and view your test results. Launching on October 1st, TESS is built specifically for individuals to register for their exams. Eligibility is simple: you must be over 18, have a social security number, and not already be registered in Web CRD.

Once you’re registered, it’s easy to enroll for exams. And if you’re already registered with Web CRD, your credentials will allow you to access TESS as well. Within 72 hours of completing an exam, TESS will display the exam result and the test date under the “My Exams” section.

Taking FINRA exams is easy with TESS!

Questions? Visit the TESS FAQ, email info@solomonexamprep.com, or call 503-601-0212!

August Study Question of the Month

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card. Continue reading

Submit your answer to info@solomonexamprep.com to be entered to win a $10 Starbucks gift card.

Question

Relevant to the Series 6Series 7, Series 24, Series 26Series 62, Series 79Series 82, and Series 99.

 

 

 

 

 

Which of these records about your customer Doug is your firm required to retain for five years?
 
A. Doug’s customer ledger
B. A SAR you filed on Doug
C. A complaint Doug filed about you

D. A confirmation of one of Doug’s trades

Answer: B. The general tier of recordkeeping is three years, six years, and lifetime, although there are some records with retention periods of four or five years. Additionally, the firm must keep most records easily accessible for the first two years.

Customer ledgers fall in the six-year tier, Suspicious Activity Reports (SARs) fall in the five-year tier, customer complaints fall in the four-year tier, and trade confirmations fall in the three-year tier.

Series 3 Study Materials Available Now!

When you were young, did you dream of becoming a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator? But life got in the way of your dream? Continue reading

“When you were young, did you dream of becoming a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator?”

“But life got in the way of your dream?”

Good news! Solomon Exam Prep has just published study materials for the Series 3 – NFA National Commodities Futures Examination. A Series 3 license qualifies individuals to solicit customers, customer orders or customer funds on behalf of a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity trading advisor or commodity pool operator. It also qualifies persons to supervise these individuals.

Solomon Exam Prep’s materials are thorough, covering every topic on the NFA outline. Chapters include:

1. Trading in Commodity Futures
2. Trading in Interest Rate Futures
3. Foreign Exchange Futures, Stock Futures, and Futures Spreads
4. Simple Options and the Futures Market
5. Hedging with Multiple Options
6. Futures Price and Market Analysis
7. Registration, Regulation and Disciplinary Procedures

With the Series 3 registration, you can offer investments in commodity and security futures. If you want to be a futures commission merchant, retail foreign exchange dealer, introducing broker, commodity pool operator, commodity trading advisor, or leverage transaction merchant, the Series 3 is for you!

Solomon Exam Prep is known for easy-to-understand exam study guides, available in both digital and hard copy format. Solomon Exam Prep also offers an industry-leading online exam simulator! With unlimited chapter quizzes and practice exams and an original question bank of over 1,200 questions, there’s nothing better to study with. Get the exam study guide and online exam simulator together in Solomon Exam Prep’s Essentials package for 10% off!

With Solomon Exam Prep’s study materials, you can rocket into a bright future with futures!