SERIES 24 - CHEAT SHEET || WITH
100% ERROR-FREE SOLUTIONS.
Question : Membership revoked or suspended if fees are
not paid within ___ days of notice
Correct answer: 15 days
Question : Written notice ____ days in advance of any
material change to the firm
Correct answer: 30 days
Question : Must report registered representative (RR)
violations and suspensions within ___ business days
Correct answer: 10 business days
Question : SD if convicted of money/securities
misdemeanor or any felony within past ___ years
Correct answer: 10 years
Question : Firm element of Continuing Education (CE)
must be completed
Correct answer: Annually
Question : Regulatory Element must be completed
Correct answer: 120 days of 2nd registration
Question : Military Service
Correct answer: Re-registration within 90 days of return
Question : OSJ and Supervising branches inspected
annually, non supervising branches at least once every 3 years
Correct answer: NASD RULE 3010
Question : Persons inspecting branch must be
independent from branch activities
Correct answer: NASD RULE 3012
Question : producing manager accounts for 20% or more
of revenue being reviewed
Correct answer: Heightened supervision
Question : CEO must certify annually that the firm has
proper supervisory procedures in place and designate CCO
Correct answer: NASD RULE 3013
Question : Business continuity plans must be disclosed
to customers on account opening
Correct answer: FINRA RULE 4370
Question : Assumed priority in NASDAQ Book
Correct answer: Price/Time
Question : Must be a market or marketable limit order
Correct answer: Non-directed orders
Question : MPID NSDQ
Correct answer: Non-Attributable Orders
Question : Show firm that entered order
Correct answer: Attributable Orders
Question : Trading platform for Nasdaq securities
Correct answer: NASDAQ BOOK
Question : Not displayed; routed for execution
Correct answer: Locking/Crossing orders
Question : NASDAQ book system shows
Correct answer: 5 best price levels
Question : Revenue is 5% or less of firm's total revenue
Correct answer: Exemptions for firms (Penny Stock rule)
Question : reports non nasdaq trades
Correct answer: ACT (Automative Confirmation
Transaction Service)
Question : Reports Nasdaq and third market trades
Correct answer: TRF (Trade Reporting Facility)
Question : Open from 8am to 8pm
Correct answer: Trade Reporting
Question : Trade reporting made
Correct answer: 30 seconds
Question : When buy side is market maker and sell side
is not
Correct answer: Only time buy side reports trade
Question : Effected outside normal business hours but
reported the same day
Correct answer: T trades
Question : Effected outside normal business hours but
reported the next business day