Study Question of the Month – March 2016

This month’s study question from the Solomon Online Exam Simulator question database is now available! Relevant to the Series 24 and 26. –ANSWER POSTED– Continue reading

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.***

Study Question

Question (Relevant to the Series 24 and Series 26):

Member firms that execute investment company transactions for their customers must transmit payments to underwriters, investment companies or their designated agents by the later of: the end of the _______business day after receiving a customer’s order or the end of _________ after receiving a customer’s payment for such shares.

Answers:

A. seventh, 3 business days

B. second, 1 business day

C. third, 1 business day

D. fifth, 3 business days

Correct Answer: C. third, 1 business day

Rationale: Member firms that execute investment company transactions for their customers must transmit payments to underwriters, investment companies or their designated agents by the later of: the end of the third business day after receiving a customer’s order or the end of 1 business day after receiving a customer’s payment for such shares.

Congratulations to Janet K. 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.***

One thought on “Study Question of the Month – March 2016”

  1. tried to submit the answer to the question at the above web address, but was not taken to a valid site.
    Answer: C

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