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Series 55 Exam Review 2013 + Test Bank: The Equity Trader Qualification Examination Textbook - Product Image

Series 55 Exam Review 2013 + Test Bank: The Equity Trader Qualification Examination Textbook

  • ID: 2640602
  • September 2013
  • 192 Pages
  • Securities Institute of America, Inc

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, anti-competitive trading practices, transactions in accounts, trade reporting requirements, insider trading regulations, and more.

The Series 55 Exam Review 2013 arms you with everything you need to pass this challenging 100-question multiple-choice test. 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

The Series 55 Exam Review 2013 is your ticket to passing the Series 55 test on the first try—with flying colors!

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About The Series 55 Exam
About This Book
About The Test Bank
About The Securities Institute Of America

CHAPTER 1 ISSUING CORPORATE SECURITIES
- The Prospectus
- The Final Prospectus
- Prospectus to Be Provided to Aftermarket Purchasers
- SEC Disclaimer
- Misrepresentations
- Tombstone Ads
- Free Riding and Withholding/FINRA Rule 5130
- Underwriting Corporate Securities
- Types of Underwriting Commitments
- Market Out Clause
- Types of Off erings
- Awarding the Issue
- The Underwriting Syndicate
- Exempt Securities
- Exempt Transactions
- Rule 137 Nonparticipants
- Rule 138 Nonequivalent Securities
- Rule 139 Issuing Research Reports
- Rule 415 Shelf Registration
- Pretest

CHAPTER 2 THE SECURITIES MARKETPLACE
- Types of Orders
- The Exchanges
- The Role of The Specialist/Designated Market Maker (DMM)
- Short Sales
- Reading the Consolidated Tape
- Pretest

CHAPTER 3 TRADING OVER THE COUNTER AND NASDAQ SECURITIES
- Market Makers
- Nasdaq Subscription Levels
- Registering as a Market Maker
- Registering as a Market Maker in an OTC BB Security
- Piggybacking a Quote
- Nasdaq Quotes
- Locked and Crossed Markets
- Nominal Nasdaq Quotes
- Payments for Market Making
- Nasdaq Execution Systems
- Order Entry Parameters
- The Order Routing Process
- Pegged Orders
- The Alternative Display Facility (ADF)
- Trade Reporting and Comparison Service (TRACS)
- Advanced Computerized Execution System (ACES)
- Electronic Communication Networks (ECNs)
- Unlisted Trading Privileges
- Market Centers
- NonNasdaq OTC BB
- Pink Sheets
- Third Market
- Nasdaq Market Center For Listed Securities
- Fourth Market
- Pretest

CHAPTER 4 MARKET MAKER RESPONSIBILITIES AND TRADE REPORTING
- Times for Entering a Quote
- Withdrawing Quotes
- Handling and Displaying Customer Limit Orders
- Interpositioning
- Automated Confi rmation System (ACT) Market Center Trade Reporting Facility
- Nasdaq Trade Reporting Facility (TRF)
- Step Out Trades
- Trading Halts
- Market Making During Syndication
- Syndicate Short Positions
- Pricing of IPOs
- Trade Reporting and Compliance Engine (TRACE)
- Pretest

CHAPTER 5 COMMISSIONS AND TRADE COMPLAINTS
- Broker vs. Dealer
- FINRA 5% Markup Policy
- Markups/Markdowns When Acting as a Principal
- Riskless Principal Transactions
- Proceeds Transactions
- Dominated and Controlled Markets
- Net Transactions with Customers
- Protection of Customer Orders
- Firm Quote Rule
- Trade Complaints between Members
- The Order Audit Trail System (OATS)
- Electronic Blue Sheets
- Pretest

CHAPTER 6 SECURITIES INDUSTRY RULES AND REGULATIONS
- The Securities Exchange Act of 1934
- The Securities Exchange Commission (SEC)
- Trading Suspensions
- Issuers Repurchasing Their Own Securities
- Tender Off ers
- The Insider Trading and Securities Fraud Enforcement Act of 1988
- Firewall
- Nasdaq Listing Standards
- The Penny Stock Cold Call Rule
- Fair Dealings with Clients
- The Uniform Practice Code
- Prime Brokerage Accounts
- Investment Advisors Act of 1940
- Brochure Delivery
- Wrap Accounts
- Securities Investor Protection Corporation Act of 1970
- Pretest

ANSWER KEYS
GLOSSARY OF EXAM TERMS
INDEX

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Note: Product cover images may vary from those shown

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