Wiley Series 55 Exam Review 2013 + Test Bank

The go–to guide to acing the Series 55 Exam! Passing the Equity Trader Qualification Exam (Series 55) qualifies an individual to trade equity and convertible debt securities on a principal or agency basis, after having passed either the Series 62 or Series 7 Exam. Topics covered in the test include NASDAQ and over–the–counter securities, quotation and market maker requirements, regulation of the national market system, trading and market halts, prearranged and third–party trades, anticompetitive trading practices, transactions in accounts, trade reporting requirements, insider trading regulations, and more. Created by the experts at The Securities Institute of America, Inc., Wiley Series 55 Exam Review 2013 arms you with everything you need to pass this challenging 100–question multiple–choicetest. Designed to help you build and fine–tune your knowledge of all areas covered in the exam and to guarantee that you’re prepared mentally and strategically to take the test, it provides: Dozens of examples Assorted practice questions for each subject area covered in the exam Priceless test–taking tips and strategies Helpful hints on how to study for the test, manage stress, and stay focused Wiley Series 55 Exam Review 2013 is your ticket to passing the Series 55 test on the first try—with flying colors! Visit www.wileysecuritieslicensing.com for more information.   The Securities Institute of America, Inc. helps thousands of securities and insurance professionals build successful careers in the financial services industry every year. Our securities training options include: Onsite classes Private tutoring Classroom training Interactive online video training classes State–of–the–art exam preparation software Printed textbooks Real–time tracking and reporting for managers and training directors   As a result, you can choose a securities training solution that matches your skill level, learning style, and schedule. Regardless of the format you choose, you can be sure that our securities training courses are relevant, tested, and designed to help you succeed. It is the experience of our instructors and the quality of our materials that make our courses requested by name at some of the largest financial services firms in the world. To contact The Securities Institute of America, visit us on the web at www.SecuritiesCE.com or call 877–218–1776. INDICE: ABOUT THE SERIES 55 EXAM IX ABOUT THIS BOOK XIII ABOUT THE TEST BANK XV ABOUT THE SECURITIES INSTITUTE OF AMERICA XVII CHAPTER 1 ISSUING CORPORATE SECURITIES 1 The Prospectus 2 The Final Prospectus 3 Prospectus to Be Provided to Aftermarket Purchasers 3 SEC Disclaimer 4 Misrepresentations 4 Tombstone Ads 4 Free Riding and Withholding/FINRA Rule 5130 5 Underwriting Corporate Securities 6 Types of Underwriting Commitments 6 Market Out Clause 7 Types of Off erings 7 Awarding the Issue 8 The Underwriting Syndicate 8 Exempt Securities 8 Exempt Transactions 9 Rule 137 Nonparticipants 14 Rule 138 Nonequivalent Securities 14 Rule 139 Issuing Research Reports 14 Rule 415 Shelf Registration 15 Pretest 17 CHAPTER 2 THE SECURITIES MARKETPLACE 21 Types of Orders 21 The Exchanges 25 The Role of The Specialist/Designated Market Maker (DMM) 25 Short Sales 29 Reading the Consolidated Tape 34 Pretest 37 CHAPTER 3 TRADING OVER THE COUNTER AND NASDAQ SECURITIES 39 Market Makers 39 Nasdaq Subscription Levels 40 Registering as a Market Maker 41 Registering as a Market Maker in an OTC BB Security 41 Piggybacking a Quote 43 Nasdaq Quotes 44 Locked and Crossed Markets 45 Nominal Nasdaq Quotes 45 Payments for Market Making 45 Nasdaq Execution Systems 46 Order Entry Parameters 49 The Order Routing Process 50 Pegged Orders 51 The Alternative Display Facility (ADF) 51 Trade Reporting and Comparison Service (TRACS) 52 Advanced Computerized Execution System (ACES) 52 Electronic Communication Networks (ECNs) 53 Unlisted Trading Privileges 54 Market Centers 54 NonNasdaq OTC BB 57 Pink Sheets 58 Third Market 58 Nasdaq Market Center For Listed Securities 59 Fourth Market 59 Pretest 61 CHAPTER 4 MARKET MAKER RESPONSIBILITIES AND TRADE REPORTING 65 Times for Entering a Quote 65 Withdrawing Quotes 68 Handling and Displaying Customer Limit Orders 69 Interpositioning 73 Automated Confi rmation System (ACT) Market Center Trade Reporting Facility 73 Nasdaq Trade Reporting Facility (TRF) 79 Step Out Trades 79 Trading Halts 80 Market Making During Syndication 81 Syndicate Short Positions 86 Pricing of IPOs 86 Trade Reporting and Compliance Engine (TRACE) 87 Pretest 91 CHAPTER 5 COMMISSIONS AND TRADE COMPLAINTS 95 Broker vs. Dealer 95 FINRA 5% Markup Policy 96 Markups/Markdowns When Acting as a Principal 97 Riskless Principal Transactions 98 Proceeds Transactions 98 Dominated and Controlled Markets 98 Net Transactions with Customers 99 Protection of Customer Orders 100 Firm Quote Rule 100 Trade Complaints between Members 102 The Order Audit Trail System (OATS) 102 Electronic Blue Sheets 103 Pretest 105 CHAPTER 6 SECURITIES INDUSTRY RULES AND REGULATIONS 107 The Securities Exchange Act of 1934 107 The Securities Exchange Commission (SEC) 108 Trading Suspensions 109 Issuers Repurchasing Their Own Securities 109 Tender Off ers 110 The Insider Trading and Securities Fraud Enforcement Act of 1988 112 Firewall 113 Nasdaq Listing Standards 113 The Penny Stock Cold Call Rule 113 Fair Dealings with Clients 115 The Uniform Practice Code 119 Prime Brokerage Accounts 123 Investment Advisors Act of 1940 125 Brochure Delivery 125 Wrap Accounts 125 Securities Investor Protection Corporation Act of 1970 126 Pretest 127 ANSWER KEYS 131 GLOSSARY OF EXAM TERMS 135 INDEX 201

• ISBN: 978-1-118-67259-4
• Editorial: John Wiley & Sons
• Encuadernacion: Rústica
• Páginas: 228
• Fecha Publicación: 17/10/2013
• Nº Volúmenes: 1
• Idioma: Inglés