UNIT 28 SIE

Tony was fired for cause from Great Plains Investments. A U-5 Form was promptly filed stating that the cause was rude treatment of coworkers creating a hostile work environment. Great Plains will keep the U-5 record for a minimum of A) six years. B) indefinitely. C) three years. D) two years.

C) three years.

How long must customer complaints be kept on file by the broker-dealer? A) Three years B) As long as the firm is in business C) Four years D) Two years

C) Four years

Which of the following are not three-year or six-year records? I. Compliance and Procedures Manual II. List of home, regional, and branch offices III. Minutes of directors' meetings IV. Customer complaints A) I and II B) II and III C) III and IV D) I and IV

C) III and IV

Which of the following records must be kept for the life of a broker-dealer firm? A) The general ledger B) Forms U-4 and U-5 C) Stock certificate books D) Customer ledgers

C) Stock certificate books

The following records would need to be retained how many years? -Advertising -Customer confirmations -Customer order tickets -U-5 forms A) Six years B) Four years C) Three years D) Five years

C) Three years

Correspondence must be maintained by a member firm for A) five years. B) the life of the firm. C) three years. D) six years.

C) three years

Which of the following records must be maintained for six years? A) Customer ledgers (statements) B) Minute books of directors meetings C) Organizational amendments shown on Form BD D) Customer confirmations and order tickets

Customer ledgers (statements)

Sennacherib Partners, a broker-dealer partnership, maintains its records to meet or exceed regulatory requirements. Once a year, the partners gather for the annual partnership meeting. In order to meet the regulatory requirement, how long must Sennacherib maintain the minutes from the most recent partnership meeting? A) For four years B) For six years C) For 10 years D) For the life of the partnership

D) For the life of the partnership

All of the following are records that are kept for the life of the firm except A) board meeting minutes. B) trade blotters. C) articles of incorporation. D) stock book.

B) trade blotters.

Dwight was appointed a principal for Seacoast Securities in June of 1996. He continued in the position until 2012, when he left to start his own firm. How long did Seacoast need to maintain the record of his principal designation? A) Until 2018 B) Until 2016 C) Until 2002 D) Until 2004

A) Until 2018

Stock ledgers, a record of stocks owned by the firm, are maintained for at least A) six years. B) three years. C) 10 years. D) four years.

A) six years.

Records of original entry must be recorded no later than the next business day and must be kept readily available for A) six years. B) two years. C) four years. D) three years.

B) two years.

Which of the following records must be maintained for six years? A) Minute books of directors meetings B) Customer ledgers (statements) C) Customer confirmations and order tickets D) Organizational amendments shown on Form BD

B) Customer ledgers (statements)

Written customer complaints must be kept for how many years? A) Six years by the SEC B) Four years by the broker-dealer C) Five years by the SEC D) Two years by the member firms

B) Four years by the broker-dealer

Which of the following records must be kept for six years? I. Customer statements II. Customer new account forms III. Customer confirmations IV. Customer order tickets

B) I and II

Records of advertising, customer confirmations, customer order tickets, and U-5 forms need to be retained for how many years? A) Five years B) Three years C) Six years D) Four years

B) Three years

The following records must be kept for how many years? -A list of the offices where registered representatives conduct business -Compensation records for registered representatives -The firm's compliance manuals A) Four years B) Three years C) Six years D) For the life of the firm

B) Three years

A minimum four-year record retention is required for A) trade confirmations. B) customer complaints. C) a firm's original articles of incorporation. D) trade blotters.

B) customer complaints.

Written complaints are kept for A) three years. B) none of these. C) 10 years. D) six years.

B) none of these.

FOCUS reports, U-4 forms, and order tickets are examples of records that must be kept for A) 10 years. B) three years. C) four years. D) six years.

B) three years.

Schmidt, a customer, has sent a written complaint to a firm principal. After a conversation with the customer, the principal was able to resolve the customer's concerns. How long must the complaint be held on file after the resolution? A) Six years B) Indefinitely C) Three years D) Four years

D) Four years

How long do blotters, general ledgers, and stock records need to be maintained? A) Five years B) Three years C) Four years D) Six years

D) Six years

The following records must be kept for how many years? -A list of the offices where registered representatives conduct business -Compensation records for registered representatives -The firm's compliance manuals A) For the life of the firm B) Four years C) Six years D) Three years

D) Three years