Series 24 STC Questions with 100% Correct
Answers
A shelf registration may be used by Correct Answer:
Well-known seasoned issuers and seasoned issuers only
A corporation has an ADTV value of $3 million and a
public float value of $125 million. What's the restricted
period for distribution participants in the issue? Correct
Answer: Under Regulation M, the distributions
participants of this issue are subject to a one-day
restriction during which the firms could only function as
passive market makers. There's no restriction if the issuer
has an ADTV value of at least $1 million and a public
float value of at least $150 million.
3 Days
A corporation is about to go public with an OTC equity
security. A broker-dealer that sells the securities in the
aftermarket is required to deliver a prospectus to
purchasers for how many days following the effective
date of registration? Correct Answer: 90 Days
, SEC Rule 10b-18 Correct Answer: Safe harbor for issuers
to purchases its own securities
If a penalty is assessed by a Hearing Panel, it generally
becomes effective Correct Answer: No less than 30 days
after the penalty is assessed
The filmed version of a television or video advertisement
must be filed with an SRO Correct Answer: Within 10
business days of first use or broadcast
It is assumed that the draft version or storyboard has
already been filed with FINRA.
A broker-dealer may ask customers if they're interested
in purchasing stock being sold under Rule 144 if the
customers had made unsolicited inquiries regarding the
security within the preceding Correct Answer: 10
business days
On behalf of an associated person, if a firm decides to
seek relief from a statutory disqualification ruling through
Answers
A shelf registration may be used by Correct Answer:
Well-known seasoned issuers and seasoned issuers only
A corporation has an ADTV value of $3 million and a
public float value of $125 million. What's the restricted
period for distribution participants in the issue? Correct
Answer: Under Regulation M, the distributions
participants of this issue are subject to a one-day
restriction during which the firms could only function as
passive market makers. There's no restriction if the issuer
has an ADTV value of at least $1 million and a public
float value of at least $150 million.
3 Days
A corporation is about to go public with an OTC equity
security. A broker-dealer that sells the securities in the
aftermarket is required to deliver a prospectus to
purchasers for how many days following the effective
date of registration? Correct Answer: 90 Days
, SEC Rule 10b-18 Correct Answer: Safe harbor for issuers
to purchases its own securities
If a penalty is assessed by a Hearing Panel, it generally
becomes effective Correct Answer: No less than 30 days
after the penalty is assessed
The filmed version of a television or video advertisement
must be filed with an SRO Correct Answer: Within 10
business days of first use or broadcast
It is assumed that the draft version or storyboard has
already been filed with FINRA.
A broker-dealer may ask customers if they're interested
in purchasing stock being sold under Rule 144 if the
customers had made unsolicited inquiries regarding the
security within the preceding Correct Answer: 10
business days
On behalf of an associated person, if a firm decides to
seek relief from a statutory disqualification ruling through
