Tüm alıştırma soruları

A supply chain auditor working for a third-party consulting firm uncovers confidential manufacturing data indicating that a publicly traded pharmaceutical company's flagship drug failed its final trial. Prior to any public announcement, the auditor passes this information to a close personal friend, who immediately purchases put options on the pharmaceutical company's stock. Under federal insider trading regulations, which of the following statements correctly describes the legal liability of the friend (the tippee)?

Under Bank Secrecy Act (BSA) regulations, a member broker-dealer must file a Currency Transaction Report (CTR) with FinCEN when a customer conducts physical cash transactions in a single business day exceeding which of the following amounts?

An independent maintenance contractor working at a publicly traded corporation's headquarters overhears senior executives discussing an unannounced major buyout offer. The contractor immediately purchases shares of the corporation prior to the public press release. Under federal securities laws, which of the following statements regarding the contractor's liability is correct?

When opening a margin account, which mandatory agreement must a customer sign to pledge their purchased securities as collateral for the margin loan extended by the broker-dealer?

A senior supply chain consultant working for an independent advisory firm learns during a confidential corporate audit that a publicly traded aerospace firm is about to receive an unannounced multi-billion dollar government contract. During a private dinner, the consultant discloses this material nonpublic information to a personal acquaintance, explicitly noting that the award has not been announced. The consultant receives no monetary payment or financial benefit for sharing the information. The acquaintance immediately purchases call options on the aerospace firm's stock prior to the public announcement, realizing substantial profits when the contract is disclosed. Under federal securities laws, which of the following best describes the insider trading liability of the consultant and the acquaintance?

During account onboarding for a new corporate entity, a broker-dealer's compliance department performs sanctions screening and identifies a confirmed hit matching the customer against the Office of Foreign Assets Control (OFAC) Specially Designated Nationals and Blocked Persons (SDN) list. Which of the following procedures must the broker-dealer execute to remain compliant with federal law?

Under FINRA Rule 3220 (Influencing or Rewarding Employees of Others), what is the maximum annual value of gifts or gratuities that an associated person of a member firm may give to an employee of another firm when the gift is given in relation to the securities business of the recipient's employer?

An investor opens a new margin account with a FINRA member firm and places an initial order to purchase $50$ shares of a marginable stock at $\$30$ per share. Assuming no other cash or securities are present in the account, what is the minimum required initial margin deposit the customer must make under Federal Reserve Regulation T and FINRA rules?

A market maker publishes a firm bid price of $42.50 for a stock. Another member firm routes a market order to sell shares based on that quote, but the market maker refuses to execute the order at$ 42.50, citing sudden market volatility. Which prohibited practice did the market maker commit?

A proprietary trader enters a series of buy and sell transactions in a small-cap stock across two distinct accounts that share the exact same ultimate beneficial owner. The transactions generate high trading volume and push the stock price upward, even though no actual change of beneficial ownership occurs. The trader intended to create the false appearance of active trading interest to induce other market participants to buy the stock. Which of the following statements accurately characterizes this trading activity under federal securities laws and SRO rules?

An independent compliance auditor working at a publicly traded renewable energy corporation reads a confidential draft report left on a conference table detailing the unexpected denial of a key federal grant. The auditor does not execute any trades, but during a dinner conversation, tells a hedge fund manager friend that the energy firm is 'about to face severe financial hardship due to pending bad regulatory news.' Based on this tip, the hedge fund manager sells short 10,000 shares of the corporation's stock prior to the public announcement. Under federal securities law and the Insider Trading and Securities Fraud Enforcement Act of 1988, which of the following statements correctly evaluates the liability of the auditor and the hedge fund manager?

A registered representative frequently buys and sells securities in a customer's discretionary account primarily to generate commissions for themselves and their firm, without regard for the customer's financial goals or risk tolerance. Which prohibited activity has the registered representative committed?

Under the Insider Trading and Securities Fraud Enforcement Act of 1988, the maximum civil monetary penalty that may be imposed on an individual for insider trading is up to three times the amount of profit gained or loss avoided.

Match each margin account regulatory rule or disclosure document on the left with its correct function or requirement on the right.

During a routine compliance review, an analyst discovers that a retail trader established two separate accounts at different financial firms, both ultimately controlled by the same beneficial owner. Over a two-week period, the trader repeatedly entered simultaneous buy and sell limit orders for a thinly traded equity security between these two accounts at identical prices and sizes. These transactions created the false appearance of active market interest without any actual change in economic ownership or risk. Which of the following correctly identifies this prohibited market practice and the scope of regulatory enforcement authority regarding criminal sanctions?

A new client visits a broker-dealer branch and deposits $12,000 in physical cash into a newly established account. During the transaction, the client becomes visibly evasive and provides contradictory explanations when asked about the origin of the funds, leading the firm to reasonably suspect that the money is derived from illegal activity. Which of the following statements correctly describes the firm's mandatory reporting obligations under Federal Anti-Money Laundering (AML) regulations?

Prior to executing any trades, a client establishes a margin account at a broker-dealer and sells short $100$ shares of XYZ common stock at $\$14$ per share as the account's first transaction. The client subsequently submits an initial cash deposit of $\$1,000$. To remain fully compliant with Federal Reserve Regulation T and FINRA initial margin requirements, how much additional cash must the client deposit?

A registered representative observes a newly opened account receiving multiple cashier's checks totaling $6,500, followed immediately by an instruction to wire the entire balance to an offshore entity in a high-risk jurisdiction without any clear financial rationale. The broker-dealer determines that this activity is suspicious and requires regulatory reporting. According to Bank Secrecy Act (BSA) regulations and FINRA rules, what is the mandatory requirement for filing a Suspicious Activity Report (SAR)?

Match each anti-money laundering (AML) and sanctions compliance obligation with its corresponding regulatory standard or filing timeline.

Match each trade settlement scenario or corporate action event on the left with its corresponding FINRA regulatory rule or trade confirmation disclosure requirement on the right.