Series 79 Financial Industry Regulatory Authority (Finra) Quiz
The Financial Industry Regulatory Authority (FINRA) is a body that provides tools, templates and other resources to small firms of not more than 150 representatives to protect investors. Learn more about this body below. All the best.
Questions and Answers
- 1.
Who are options created by?
- A.
Issuer
- B.
O.C.C
Correct Answer
B. O.C.CExplanation
Options are created by the O.C.C (Options Clearing Corporation). The O.C.C is responsible for standardizing and guaranteeing the performance of options contracts. They create options by establishing the terms and conditions of each contract, including the strike price, expiration date, and underlying asset. The O.C.C also acts as the central counterparty for all options trades, ensuring that the obligations of buyers and sellers are fulfilled.Rate this question:
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- 2.
If Disqualified from registration, you can file ______ for a hearing
- A.
14b-9
- B.
Mc-400
- C.
10b-18
- D.
Nyse rule 44
Correct Answer
B. Mc-400Explanation
If disqualified from registration, you can file an MC-400 for a hearing. The MC-400 is a form used in the United States to request a hearing before an administrative law judge. This form is typically used in cases related to immigration, but it can also be used in other contexts where a hearing is required. By filing an MC-400, the individual can present their case and arguments before the judge, providing an opportunity to challenge the disqualification decision and potentially have it overturned.Rate this question:
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- 3.
Who needs a series 7 as well as a series 79?
Correct Answer
institutional sales, retail sales, researchExplanation
Individuals who work in institutional sales, retail sales, and research roles in the financial industry typically need to have both a Series 7 and a Series 79 license. The Series 7 license is required for individuals who engage in the sale of securities products, while the Series 79 license is specifically for individuals involved in investment banking activities, including mergers and acquisitions, underwriting, and financial advisory services. Having both licenses allows professionals to effectively serve clients in different areas of the financial industry.Rate this question:
- 4.
How long does a special inactive last for after discharge?
- A.
120 days
- B.
2 years
- C.
2 years + 90 day grace period
- D.
10 years
Correct Answer
C. 2 years + 90 day grace periodExplanation
After discharge, a special inactive status lasts for a period of 2 years. Additionally, there is a 90-day grace period provided, extending the total duration to 2 years and 90 days. This means that individuals have this timeframe to maintain their special inactive status before it expires.Rate this question:
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- 5.
After receiving notice, how long do you have to complete your regulatory element?
- A.
180 days
- B.
120 days
- C.
2 years
Correct Answer
B. 120 daysExplanation
After receiving notice, individuals have 120 days to complete their regulatory element. This time frame allows them to fulfill any required training or education related to regulatory compliance within a reasonable period. It ensures that individuals stay updated and knowledgeable about the regulations applicable to their field or profession. A shorter time frame might be too restrictive, while a longer one might delay the process unnecessarily. Thus, 120 days strikes a balance between providing sufficient time and maintaining efficiency.Rate this question:
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- 6.
How often does one take the regulatory element?
- A.
Every 2 years
- B.
2 years after registration, every 3 years after that
- C.
Every 3 years
- D.
3 years after registration, every 2 years after that
Correct Answer
B. 2 years after registration, every 3 years after thatExplanation
One takes the regulatory element 2 years after registration, and then every 3 years after that. This means that initially, the regulatory element is taken 2 years after registration. After that, it is taken every 3 years, meaning that there is a 3-year gap between each subsequent regulatory element.Rate this question:
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- 7.
Which best describes front running?
- A.
Wash sales
- B.
Trading ahead of client orders
- C.
Pegging
- D.
Capping
Correct Answer
B. Trading ahead of client ordersExplanation
Front running refers to the unethical practice of a broker or trader executing orders on a security for their own benefit before executing orders on behalf of their clients. This allows the broker or trader to take advantage of the anticipated price movement resulting from the client's order. By trading ahead of client orders, the broker or trader can potentially profit from the price movement caused by the client's order, at the expense of the client's best interests.Rate this question:
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- 8.
When Pegging, you
- A.
Keep the price of a stock from rising
- B.
Keep the price of a stock from falling
Correct Answer
B. Keep the price of a stock from fallingExplanation
Pegging refers to the practice of keeping the price of a stock from falling. This can be done by placing buy orders or providing support at a certain price level, preventing the stock from declining further. The intention behind pegging is to stabilize the stock price and maintain investor confidence. By actively preventing the price from falling, pegging aims to create a floor or support level for the stock, ensuring that it does not experience significant downward movements.Rate this question:
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- 9.
When Capping, you
- A.
Keep the price from falling
- B.
Keep the price from rising
Correct Answer
B. Keep the price from risingExplanation
When capping, you are implementing a maximum limit on the price to prevent it from rising beyond a certain point. This is done to control inflation or to ensure that the price remains affordable for consumers. By setting a cap, the price cannot exceed the specified limit, providing stability and preventing any further increase.Rate this question:
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- 10.
A u-5 must be submitted within
- A.
10 days
- B.
20 days
- C.
30 days
Correct Answer
C. 30 daysExplanation
A u-5 must be submitted within 30 days. This means that there is a deadline of 30 days to submit the u-5 form. It is important to submit the form within this time frame to ensure compliance with the required regulations or procedures. Failing to submit the u-5 within 30 days may result in penalties or other consequences.Rate this question:
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- 11.
How long do you have for the transgression of a felony or misdemeanor?
- A.
180 days
- B.
2 years
- C.
5 years
- D.
10 years
Correct Answer
D. 10 yearsExplanation
The transgression of a felony or misdemeanor can be prosecuted within a certain time frame known as the statute of limitations. In this case, the correct answer is 10 years, meaning that legal action can be taken against the offender within a period of 10 years from the time the crime was committed. After this time has passed, the prosecution is generally barred from pursuing charges against the individual.Rate this question:
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- 12.
True or false: If you work in public finance, you are considered a RR
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The statement "If you work in public finance, you are considered a RR" is false. Public finance refers to the management of a government's revenue, expenses, and debt. While working in public finance may involve dealing with financial matters, it does not automatically make someone a Registered Representative (RR). An RR typically refers to a licensed professional who is authorized to buy and sell securities on behalf of clients. Therefore, the correct answer is false.Rate this question:
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- 13.
True or False: if you work for the DPP you are considered a Registered Rep
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Working for the DPP (District Public Prosecutor) does not automatically make someone a Registered Rep (Registered Representative). The DPP is a legal position within the legal system, while being a Registered Rep typically refers to individuals who are licensed to sell securities and work in the financial industry, such as stockbrokers or investment advisors. Therefore, the statement is false.Rate this question:
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- 14.
What is the waiting period for unsuccessful attempts on the series 79
- A.
30 days after 1st and 2nd attempt 180days every time after
- B.
30 days between each test
- C.
30 days after 1st,2nd and 3rd attempt, 180 days each time after
Correct Answer
A. 30 days after 1st and 2nd attempt 180days every time afterExplanation
The waiting period for unsuccessful attempts on the series 79 is 30 days after the 1st and 2nd attempt, and then 180 days every time after. This means that if someone fails the exam for the first or second time, they must wait 30 days before attempting it again. However, if they fail the exam for the third time or any subsequent attempts, they must wait 180 days before being able to retake it.Rate this question:
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- 15.
Which best describes the Securities exchange act of 1934?
- A.
Created by Finra, regulates bonds
- B.
Created by Finra, regulates secondary markets
- C.
Created by SEC, Regulates bonds
- D.
Created by SEC, Regulates secondary market
Correct Answer
D. Created by SEC, Regulates secondary marketExplanation
The correct answer is "Created by SEC, Regulates secondary market." The Securities Exchange Act of 1934 was enacted by the U.S. Congress and established the Securities and Exchange Commission (SEC) as the regulatory body for the securities industry. This act focuses on the regulation of secondary markets, which include stock exchanges and over-the-counter markets, where previously issued securities are traded among investors. It aims to ensure fair and transparent trading practices, protect investors, and maintain the integrity of the securities market.Rate this question:
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- 16.
What are the penalties for an individual who commits a criminal crime and who regulates it?
- A.
Up to $25mm - SEC
- B.
Up to $5m and 20 years in jail regulated by DOJ
- C.
Must give up profits and up to 3 times the profit SEC
- D.
Must give up profits and up to 3 times the profit DOJ
Correct Answer
B. Up to $5m and 20 years in jail regulated by DOJExplanation
The correct answer is "up to $5m and 20 years in jail regulated by DOJ." This means that an individual who commits a criminal crime can face penalties of up to $5 million in fines and up to 20 years of imprisonment, which are regulated by the Department of Justice (DOJ). The Securities and Exchange Commission (SEC) is responsible for imposing penalties of up to $25 million in fines, and individuals may also be required to give up their profits and pay up to three times the amount of their profits. However, this is not the penalty mentioned in the correct answer.Rate this question:
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- 17.
What are the penalties for an individual who commits a civil crime? Who regulates this?
- A.
Give up profits and up to 3 times the amount- SEC
- B.
Give up profits and up to 3 times the amount - DOJ
- C.
Up to $5m and 20 years in jail regulated by DOJ
- D.
Up to $25 regulated by DOJ
Correct Answer
A. Give up profits and up to 3 times the amount- SECExplanation
The correct answer states that an individual who commits a civil crime may be required to give up their profits and pay up to three times the amount they gained from the crime. This is regulated by the SEC (Securities and Exchange Commission). The SEC is responsible for enforcing federal securities laws and protecting investors in the United States. They have the authority to impose penalties and sanctions on individuals or entities that violate these laws, including civil fines and disgorgement of ill-gotten gains.Rate this question:
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- 18.
What are the penalties for a corporation who commits a criminal crime and who regulates it?
- A.
Give up profits and up to 3 times the amount- SEC
- B.
Give up profits and up to 3 times the amount - DOJ
- C.
Up to $5m and 20 years in jail regulated by DOJ
- D.
Up to $25 regulated by DOJ
Correct Answer
D. Up to $25 regulated by DOJExplanation
The explanation for the given correct answer is that the penalties for a corporation who commits a criminal crime are up to $25 and they are regulated by the Department of Justice (DOJ). This means that if a corporation is found guilty of a criminal offense, they can be fined up to $25 and the DOJ is responsible for enforcing and regulating these penalties.Rate this question:
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- 19.
A company wants to buy back stocks, what section must he abide by?
- A.
Section 3011
- B.
Section 10b-18
- C.
Section 10b-5
- D.
435(5)
Correct Answer
B. Section 10b-18Explanation
Section 10b-18 is the correct answer because it specifically addresses the rules and regulations related to stock buybacks. This section provides guidelines for companies on how they can repurchase their own shares in the market without manipulating the stock price or engaging in fraudulent activities. By following the provisions outlined in Section 10b-18, the company can ensure that the buyback process is conducted in a fair and transparent manner, protecting the interests of shareholders and maintaining market integrity.Rate this question:
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- 20.
Who files a WSP and how often?
- A.
BOD annually
- B.
BOD quarterly
- C.
CEO annually
- D.
CEO quarterly
Correct Answer
C. CEO annuallyExplanation
The CEO files a WSP (Workplace Safety Plan) annually. This suggests that it is the responsibility of the CEO to ensure the safety of the workplace and to develop a comprehensive plan to address any potential hazards or risks. By filing the WSP annually, the CEO demonstrates their commitment to maintaining a safe and healthy work environment for employees.Rate this question:
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- 21.
A client buys an IPO, they get a prospectus and a confirmation in the mail. Which document does the investment bank keep and how long are they required to keep it?
- A.
Both Documents 2 years
- B.
Confirmation 3 years
- C.
Confirmation 2 years
- D.
Prospectus 3 years
Correct Answer
B. Confirmation 3 yearsExplanation
The investment bank keeps the confirmation document and is required to keep it for 3 years. This document serves as proof of the client's purchase of the IPO and contains important details such as the number of shares bought, the price paid, and the transaction date. By keeping the confirmation for 3 years, the investment bank can refer back to it if any discrepancies or issues arise in the future. The prospectus, on the other hand, is given to the client and is not typically retained by the investment bank.Rate this question:
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- 22.
How often is AML Tested?
- A.
Quarterly
- B.
Semi-annually
- C.
Annually
Correct Answer
C. AnnuallyExplanation
AML stands for Anti-Money Laundering. It is a set of regulations and procedures that financial institutions must follow to detect and prevent money laundering and terrorist financing activities. AML testing refers to the process of assessing the effectiveness of these measures. The correct answer, annually, suggests that AML testing is conducted once a year. This allows financial institutions to evaluate their AML controls, identify any weaknesses or gaps, and make necessary improvements to ensure compliance with AML regulations. By conducting annual AML testing, institutions can stay vigilant in their efforts to combat money laundering and protect the integrity of the financial system.Rate this question:
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- 23.
Which best describes OSJ?
- A.
Structures Public Offers
- B.
Signs off on company literature
- C.
Structures private placements
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The correct answer is "all of the above" because OSJ (Office of Supervisory Jurisdiction) is responsible for structures public offers, signs off on company literature, and structures private placements. This means that OSJ oversees and approves various aspects related to public offers, company literature, and private placements.Rate this question:
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- 24.
An OSJ, must be supervised by an
- A.
Officer
- B.
Owner of 10% or more
- C.
Principle
- D.
Shareholder
Correct Answer
C. PrincipleExplanation
An OSJ (Office of Supervisory Jurisdiction) must be supervised by a Principle. A Principle is an individual who has the authority and responsibility to supervise and control the activities of the OSJ. They are typically high-level executives or managers within the organization who oversee the compliance and regulatory aspects of the business. The Principle ensures that the OSJ operates in accordance with industry regulations and guidelines, and they hold ultimate responsibility for the actions and conduct of the OSJ.Rate this question:
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- 25.
True or False: The Patriot act backs CIP?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The Patriot Act does support CIP (Critical Infrastructure Protection). This act was enacted in response to the 9/11 terrorist attacks in the United States and it grants the government increased powers to monitor and protect critical infrastructure, such as power plants, transportation systems, and communication networks, from potential threats. The act allows for enhanced surveillance and information sharing between government agencies to prevent and respond to any potential attacks on critical infrastructure.Rate this question:
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- 26.
Under CIP, you must check the name of a foreign client against which list
- A.
Opac
- B.
Ofac
- C.
Sars
- D.
SEC
Correct Answer
B. OfacExplanation
Under CIP (Customer Identification Program), it is necessary to verify the identity of foreign clients. In order to comply with regulations, the name of the foreign client must be checked against the OFAC (Office of Foreign Assets Control) list. OFAC maintains a list of individuals and organizations that are prohibited from doing business with US entities due to their involvement in illegal activities or posing a threat to national security. Therefore, checking the name against the OFAC list helps ensure compliance with legal requirements and prevents engaging in transactions with sanctioned individuals or entities.Rate this question:
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- 27.
If you suspect a foreign client of having $5k or more in undeclared money, what is required?
- A.
File under SEC within 10 days
- B.
File under SARs within 10 days
- C.
File under SEC within 30 days
- D.
File under SARs within 30 days
- E.
File under Ofac within 30 days
Correct Answer
D. File under SARs within 30 daysExplanation
If there is suspicion that a foreign client has $5k or more in undeclared money, it is required to file under SARs (Suspicious Activity Reports) within 30 days. SARs are reports filed by financial institutions to report suspicious transactions that may indicate criminal activity, including money laundering. Filing under SARs helps to ensure compliance with anti-money laundering regulations and assists in the detection and prevention of financial crimes.Rate this question:
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- 28.
If you notice a foreign country such as syria or north korea attempting to do business, what action must be taken.
- A.
Block & Report to OFAC 10 days
- B.
Block & Report OFAC 30 days
- C.
Block & Report SARs 10 days
- D.
Block & Report SARs 30 days
Correct Answer
A. Block & Report to OFAC 10 daysExplanation
If a foreign country, such as Syria or North Korea, is observed attempting to do business, the appropriate action to be taken is to block any transactions with them and report the incident to the Office of Foreign Assets Control (OFAC) within 10 days. This is necessary to comply with international sanctions and prevent any potential illegal activities or support to sanctioned countries.Rate this question:
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- 29.
Trading securities outside the regular scope of employement is regulated by Finra, as well as the approval of a member. Another word for this is:
- A.
Pegging
- B.
Wash Sale
- C.
Selling away
- D.
Cross selling
Correct Answer
C. Selling awayExplanation
Selling away refers to the practice of a securities professional engaging in securities transactions outside the scope of their employment with a member firm, without the approval or knowledge of the firm. This activity is regulated by Finra, the Financial Industry Regulatory Authority, to ensure that investors are protected and that securities professionals are acting in the best interest of their clients.Rate this question:
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- 30.
You are a RR, your father in law asks you for money, he is your client. Are you violating any laws?
- A.
Yes
- B.
No
Correct Answer
B. NoExplanation
No, you are not violating any laws. As a RR (Registered Representative), you have a professional relationship with your father-in-law who is also your client. If he asks you for money, it is a personal matter and not a violation of any laws. However, it is important to handle such situations with caution and maintain professional boundaries to avoid any conflicts of interest or ethical concerns.Rate this question:
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- 31.
Client XYZ wants to share his losses and profits with you, is it possible?
- A.
Yes
- B.
Yes, with a joint account only
- C.
Not at all
Correct Answer
B. Yes, with a joint account onlyExplanation
It is possible for Client XYZ to share his losses and profits with you, but only if you have a joint account. A joint account allows for the pooling of funds and the sharing of financial gains and losses between account holders. Without a joint account, it would not be possible to share losses and profits.Rate this question:
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- 32.
How often are customer complaints files and with who?
- A.
Finra Annually
- B.
Finra Quarterly
- C.
SEC Annually
- D.
SEC Quarterly
Correct Answer
B. Finra QuarterlyExplanation
The correct answer is "Finra Quarterly." This means that customer complaints files are filed every quarter with Finra. Finra is a regulatory organization that oversees brokerage firms and exchange markets in the United States. Filing complaints regularly allows for timely resolution and monitoring of any issues or misconduct in the industry. The frequency of quarterly filing ensures that customer complaints are addressed promptly and efficiently.Rate this question:
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- 33.
A change in statements, projections on revenue or expenses or a change to historical documents are called:
- A.
8-k statements
- B.
Pro-forma statements
Correct Answer
B. Pro-forma statementsExplanation
Pro-forma statements refer to financial statements that are based on hypothetical scenarios or assumptions. These statements are used to project the potential impact of changes in statements, projections on revenue or expenses, or modifications to historical documents. They provide a way for businesses to estimate the financial outcomes of certain events or decisions before they occur, allowing for better planning and decision-making. Therefore, pro-forma statements are the appropriate term for this type of analysis.Rate this question:
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- 34.
What is the statue of limitations for arbitration?
- A.
2 years
- B.
5 years
- C.
6 years
- D.
10 years
Correct Answer
C. 6 yearsExplanation
The statute of limitations for arbitration is 6 years. This means that an individual has a period of 6 years from the date of the dispute to initiate an arbitration claim. After this time period has passed, the individual may no longer be able to pursue arbitration for the specific dispute.Rate this question:
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- 35.
Companies exceeding $10mm and more than 500 shareholders must register and file
- A.
Section 10b-18
- B.
Regulation FD
- C.
10k & 10Q
- D.
8K
Correct Answer
C. 10k & 10QExplanation
Companies exceeding $10mm in assets and more than 500 shareholders are required to register and file the 10k and 10Q forms. The 10k form is an annual report that provides a comprehensive overview of the company's financial performance, management discussion and analysis, and other relevant information. The 10Q form is a quarterly report that provides updates on the company's financial condition and results of operations. These filings are important for transparency and accountability, allowing investors and the public to make informed decisions about the company.Rate this question:
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- 36.
How often are 10Qs Filed a year?
- A.
Once
- B.
Twice
- C.
Three times
- D.
Four times
Correct Answer
C. Three timesExplanation
10Qs, also known as quarterly reports, are filed by companies with the Securities and Exchange Commission (SEC) in the United States. These reports provide a summary of a company's financial performance and activities during a specific quarter. As per the answer given, 10Qs are filed three times a year, indicating that companies submit these reports every quarter.Rate this question:
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- 37.
After material information changes, what time frame is given to file an 8-k
- A.
4 Business Days
- B.
4 calendar days
- C.
10 Business Days
- D.
10 Calender days
Correct Answer
A. 4 Business DaysExplanation
After material information changes, companies are required to file an 8-K form with the Securities and Exchange Commission (SEC) within 4 business days. This form is used to disclose important events or changes that could affect the company's financial status or stock price. The 4 business day timeframe allows for timely and transparent reporting to investors and the public, ensuring that material information is promptly disclosed.Rate this question:
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- 38.
If material non public information is disclosed improperly, it must be disseminated to the public under what rule and what time limit?
- A.
Regulation FD 120 Days
- B.
Regulation FD 24 Hours
Correct Answer
B. Regulation FD 24 HoursExplanation
Regulation FD requires that if material non-public information is disclosed improperly, it must be disseminated to the public within 24 hours. This rule ensures that all investors have equal access to important information, preventing unfair advantages for certain individuals or entities. By mandating the prompt disclosure of such information, Regulation FD promotes transparency and fairness in the financial markets.Rate this question:
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- 39.
True or false, a man owns 6% share in google and his wife owns 4% share in google, They are insiders
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
The statement is true because the man and his wife collectively own 10% of the shares in Google, which qualifies them as insiders. Insiders are individuals who have access to important non-public information about a company, such as its financial status or future plans, due to their ownership or employment within the company. The ownership percentage mentioned in the question indicates that the man and his wife have a significant stake in Google, making them insiders.Rate this question:
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- 40.
True or False, an officer, director or owner of more than 10% of voting securities is considered an insider.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
An officer, director, or owner of more than 10% of voting securities is considered an insider because they have access to confidential information about the company and can potentially use it for personal gain. As insiders, they have a legal obligation to disclose their transactions in the company's securities and are subject to certain restrictions and regulations to prevent insider trading.Rate this question:
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- 41.
When acheiving insider status, what form must be file and how long
- A.
Form 4 - 2 Business days
- B.
Form 3 - 10 days
- C.
Form 2 - 5 days
- D.
Form 5 - Annually
Correct Answer
B. Form 3 - 10 daysExplanation
When achieving insider status, the required form that must be filed is Form 3, and it must be filed within 10 days.Rate this question:
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- 42.
Annual filings covering transactions such as gifts are filed under which form?
- A.
Form 4 - 2 business days
- B.
Form 3- 10 business days
- C.
Form 5 - Annually
- D.
Form 2 - Annually
Correct Answer
C. Form 5 - AnnuallyExplanation
Annual filings covering transactions such as gifts are filed under Form 5. This form is filed on an annual basis, meaning it is submitted once every year. It is important to file this form to disclose any transactions related to gifts.Rate this question:
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- 43.
Notification to the SEC of changes in position are filed in what form and when?
- A.
Form 4 - 2 business days
- B.
Form 3- 10 business days
- C.
Form 5 - Annually
- D.
Form 2 - Annually
Correct Answer
A. Form 4 - 2 business daysExplanation
When there are changes in position, individuals are required to file a notification to the SEC. This notification is done using Form 4, and it must be filed within 2 business days of the changes occurring.Rate this question:
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- 44.
Anyone who acquired 5% or more of equity must file
- A.
Schedule 13d
- B.
14d-9
- C.
13a-11
- D.
10b-5
Correct Answer
A. Schedule 13dExplanation
Schedule 13D is a required filing with the Securities and Exchange Commission (SEC) for any individual or group that acquires 5% or more of a company's equity. This filing is necessary to provide transparency and ensure that investors are aware of significant ownership changes that could potentially impact the company's operations or stock price. The other options listed, such as 14D-9, 13a-11, and 10b-5, are not specifically related to the requirement for filing when acquiring 5% or more of equity.Rate this question:
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- 45.
When filing a schedule 13d-9, who must you file it with
- A.
The issuer
- B.
The exchange where security is traded
- C.
The SEC
- D.
A and C only
- E.
A, B and C
Correct Answer
E. A, B and CExplanation
When filing a Schedule 13D-9, it must be filed with the issuer, the exchange where the security is traded, and the SEC. This is because Schedule 13D-9 is a form required by the SEC for reporting beneficial ownership of securities, and it is important to notify all relevant parties involved in the ownership and trading of the securities.Rate this question:
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- 46.
If a man is looking to purchase a 5% of Google but doesn't intend on controlling or influencing the stock, what must he file?
- A.
Schedule 13d-9
- B.
Schedule TO in addition to schedule 13d-9
- C.
Schedule 13G
- D.
Schedule 13F
Correct Answer
C. Schedule 13GExplanation
If a person is looking to purchase a 5% stake in Google without intending to control or influence the stock, they must file Schedule 13G. Schedule 13G is a form required by the Securities and Exchange Commission (SEC) for passive investors who hold a significant stake in a company but do not have the intention to actively participate in its management or decision-making. This form provides information about the investor's background, holdings, and intentions, ensuring transparency in the market.Rate this question:
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- 47.
Institutional investment managers file what form quarterly?
- A.
Schedule 13D
- B.
Schedule 13G
- C.
Schedule 13F
Correct Answer
C. Schedule 13FExplanation
Institutional investment managers file Form 13F quarterly. This form is required by the Securities and Exchange Commission (SEC) and is used to report their holdings of publicly traded securities. Form 13F provides important information about the investment manager's portfolio, including the types of securities held, the number of shares or contracts held, and the market value of those holdings. This information is made available to the public and helps investors, analysts, and regulators understand the investment activities of institutional managers.Rate this question:
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- 48.
Time Period for Annual Proxy Meeting by mail is
- A.
10 days
- B.
20 days
- C.
30 days
- D.
40 days
Correct Answer
B. 20 daysExplanation
The correct answer is 20 days because the time period for the annual proxy meeting by mail is the duration within which the shareholders must receive the proxy materials before the meeting. This allows them sufficient time to review the materials, make informed decisions, and submit their proxy votes. A 20-day period strikes a balance between giving shareholders adequate time and ensuring the meeting is not delayed excessively.Rate this question:
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- 49.
Time Period for Annual proxy meeting by electronic notice
- A.
10 days
- B.
20 days
- C.
30 days
- D.
40 days
Correct Answer
D. 40 daysExplanation
The correct answer is 40 days because the time period for the annual proxy meeting by electronic notice is the longest option provided. This suggests that the meeting requires a longer notice period to ensure that all participants have ample time to receive and review the electronic notice. A longer notice period may be necessary to accommodate any potential technical difficulties or delays in delivering the notice electronically.Rate this question:
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- 50.
A preliminary proxy statement must be filed how long before a definitive proxy?
- A.
10 days
- B.
20 days
- C.
30 days
- D.
40 days
Correct Answer
A. 10 daysExplanation
A preliminary proxy statement must be filed 10 days before a definitive proxy because it provides shareholders with important information about matters to be voted on at a meeting. This allows shareholders to review and analyze the information before making an informed decision. The 10-day period allows for sufficient time for shareholders to receive and review the preliminary proxy statement before the definitive proxy is filed, which includes any updates or changes based on shareholder feedback or additional information.Rate this question:
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Mar 19, 2023Quiz Edited by
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Apr 17, 2010Quiz Created by
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