Series 10 General Securities Sales Supervisor General Module Textbook
Securities Institute of America, Inc, January 2007, Pages +: 181
Each Series 10 exam will be comprised of 145 questions based on the following topics
Supervision of Accounts & Sales Activities
- 94 Questions
Municipal Securities Regulations
- 20 Questions
Conduct of Associated Persons
- 14 Questions
Hiring, Qualifications & Continuing Education
- 9 Questions
Record Keeping Requirements
- 8 questions
Each Series 10 exam candidate will receive:
- 145 questions
- 4 hours to complete
- 70 % = pass
Chapter One: Supervision of Brokerage Office Personnel & Procedures
- Introduction
- Hiring New Employees
- Resignation of a Registered Representative
- Registration Exemptions
- Retiring Representatives / Continuing Commissions
- Persons Ineligible to Register
- Disciplinary Actions Against a egistered Representative
- Termination for Cause
- Outside Employment
- Private Securities Transactions
- Gift Rule
- Advertising and Sales Literature
- Advertising
- Sales Literature
- Blind Recruiting Ads
- Generic Advertising
- Filing and Retention Requirements
- Testimonials
- Free Services
- Misleading Advertising and Sales Literature
- Correspondence
- Sharing in a Customer’s Account
- Borrowing and Lending Money
- Order Tickets
- Executing an Order
- Order Room / Wire Room
- Purchase and Sales Department
- Margin Department
- Cashiering Department
- Becoming a Stockholder
- Trade Date
- Settlement Date
- Payment Date
- Violation
- Clearly Erroneous Reports
- Execution Errors
- As / Of Trades
- Corporate and Municipal Securities Settlement Options
- Cash
- Next Day:
- Seller’s Option
- Buyer’s Option
- RVP / DVP / COD
- When Issued Securities
- Government Securities Settlement Options
- Accrued Interest
- Calculating Accrued interest
- Close Outs
- Customer Confirmations
- Rules for Good Delivery
- Rejection of Delivery
- Reclamation
- Marking To The Market
- Customer Account Statements
- Carrying of Customer Accounts
- Dividend Distribution
- Declaration Date
- Ex Dividend Date
- Record Date
- Payment Date
- Stock Price and the Ex Dividend Date
- Dividend Disbursement Process
- Due Bills
- Proxies
- Box Counts
- Missing and Lost Securities
- The Customer Protection Rule
- Broker Dealer Books and Records
- Blotters
- General Ledger
- Customer Accounts
- Subsidiary (Secondary) Records
- Securities Position Book (Ledger) Stock Record
- Order Tickets
- Confirmations and Notices
- Monthly Trial Balances and Net Capital Computations
- Employment Applications
- Records Required to Be Maintained for Three Years
- Records Required to Be Maintained for Six Years
- Records Required to Be Maintained for the Life of the Firm
Chapter Two: General Supervision & Customer Recommendations
- Introduction
- The Role of the Principal
- Supervisor Qualifications and Prerequisites
- Continuing Education
- Firm Element Continuing Education
- Regulatory Element
- Tape Recording Employees
- Information Obtained From an Issuer
- Customer Complaints
- Mediation
- Code of Arbitration
- The Arbitration Process
- Simplified Arbitration
- Larger Disputes
- Awards Under Arbitration
- NYSE Notification
- Investor Information
- Member Offices
- Office of Supervisory Jurisdiction
- Branch Offices
- Satellite Offices
- Sharing office Space
- Annual Compliance Review
- Recommendations To Customers
- Recommending Mutual Funds
- Periodic Payment Plans
- Mutual Fund Current Yield
- Fair Dealings with Customers
- Churning
- Manipulative and Deceptive Practices
- Unauthorized Trading
- Fraudulent Acts
- Blanket Recommendations
- Selling Dividends
- Misrepresentations
- Omitting Material Facts
- Making Guarantees
- Recommendations to an Institutional Customer
- Short Sales in Connection with Recommendations
- Issuing Research Reports
- Research Reports Required Disclosures
- Regulation FD Fair Disclosure
- The Insider Trading & Securities Fraud Enforcement Act of
- Fire Wall
Chapter Three: Supervision of Customer Accounts
- Introduction
- Holding Securities
- Transfer and Ship
- Transfer and Hold in Safekeeping
- Hold in Street Name
- The Depository Trust Company / DTC
- Mailing Instructions
- Individual Account
- Joint Account
- Joint Tenants with Rights of Survivorship (JTWROS)
- Joint Tenants in Common (JTIC)
- Transfer on Death (TOD)
- Death of a Customer
- Partnership Accounts
- Corporate Accounts
- Trading Authorization
- Operating a Discretionary Account
- Managing Discretionary Accounts
- Third Party and Fiduciary Accounts
- Uniform Gifts to Minors Act (UGMA)
- Responsibilities of the Custodian
- Contributions of a UGMA Account
- UGMA Taxation
- Death of a Minor or Custodian
- Uniform Transfer to Minors Act
- Retirement Plans
- Individual Plans
- Individual Retirement Accounts (IRAs)
- Traditional IRA
- Roth IRA
- Simplified Employee Pension IRA (SEP IRA)
- Participation
- Employer Contributions
- SEP IRA Taxation
- Educational IRA
- Plans
- IRA Contributions
- IRA Accounts
- IRA Investments
- It Is Unwise to Put a Municipal Bond in an IRA
- Rollover vs Transfer
- Rollover
- Transfer
- Keogh Plans (HR-)
- Contributions
- Tax Sheltered Annuities (TSA’s) Tax Deferred Accounts (TDA’s)
- Public Educational Institutions (B)
- Non Profit Organizations / Tax Exempt Organizations (C)
- Contributions
- Tax Treatment of Distributions
- Corporate Plans
- Non Qualified Corporate Retirement Plans
- Payroll Deductions
- Deferred Compensation Plans
- Annuities
- Taxation
- Qualified Plans
- Types of plans
- Defined Benefit Plan
- Defined Contribution Plan
- Profit Sharing Plans
- K Thrift Plans
- Rolling Over A Pension Plan
- Employee Retirement Income Security Act of (ERISA)
- Plan Participation
- Funding
- Vesting
- Communication
- Beneficiaries
- Accounts for Employees of Other Broker Dealers
- Numbered Accounts
- Prime Brokerage Accounts
- Account Transfer
- Margin Accounts
- The Credit Agreement
- The Hypothecation Agreement
- Loan Consent
- Regulation of Credit
- Regulation T
- House Rules
- Establishing a Long Position in a Margin Account
- An Increase in The Long Market Value
- Special Memorandum Account / SMA Long Margin Account
- A Decrease in The Long Market Value
- Minimum Equity Requirement
- Long Margin Accounts
- Establishing a Short Position in
- a Margin Account
- A Decrease in The Short Market Value
- Special Memorandum Account / SMA Short Margin Account
- An Increase in The Short Market Value
- Minimum Equity Requirement Short Margin Accounts
- Guaranteeing a Customer’s Account
- Day Trading Accounts
- Margin Requirements for Day Trading
- Commingling Customer’s Pledged Securities
- Wrap Accounts
- Regulation S-P
- Currency Transactions
- The Patriot Act
- US Accounts
- Foreign Accounts
- Isolated Sales Account
- Securities Investor Protection Corporation Act of (SIPC)
- Customer Coverage
- The Penny Stock Cold Call Rule
Chapter Four: Sales Supervision of New Issues
- Introduction
- The Prospectus
- The Final Prospectus
- Prospectus To Be Provided To Aftermarket Purchasers
- SEC Disclaimer
- Misrepresentations
- Tombstone Ads
- Freeriding and Withholding / NASD Rule
- Underwriting Corporate Securities
- Types of Underwriting Commitments
- Firm Commitment
- Market Out Clause
- Best Efforts
- Mini-Maxi
- All or None / AON
- Standby
- Types of Offerings
- Initial Public Offering (IPO) / New Issue
- Subsequent Primary / Additional Issues
- Primary Offering vs Secondary Offering
- Awarding the Issue
- The Underwriting Syndicate
- Selling Group
- Underwriter’s Compensation
- Management Fee
- Underwriter’s Fee
- Selling Concession
- Underwriting Spread
- Factors That Determine The Size of The Underwriting Spread
- Exempt Securities
- Exempt Transactions
- Private Placements / Regulation D Offerings
- Purchaser Representative
- Rule
- Broker Transactions Under Rule
- Rule A
- Regulation S Offerings
- Regulation A Offerings
- Small Business Offerings
- Rule
- Rule Intrastate Offering
- Rule Non Participants
- Rule Non Equivalent Securities
- Rule Issuing Research Reports
- Rule Shelf Registration
- Regulation M, Rule
- Syndicate Short Positions
- Penalty Bids
- Securities Taken in Trade
- Underwriting Direct Participation Programs
- Investment Company Registration
- Types of Investment Companies
- Face Amount Company / Face Amount Certificates
- Unit Investment Trust (UIT’S)
- Mutual Fund Distribution
- Sales Charges
- B- Fees
- Limits of a B- Fee
- Sales Charge Reductions
- Breakpoint Schedule
- Letter of Intent
- Back-Dating a Letter of Intent
- Breakpoint Sales
- Rights of Accumulation
- Selling Group Member
- B- Fees
- Limits of a B- Fee
Chapter Five: Supervision of the Secondary Market
- Introduction
- The Securities Exchange Act of
- The Securities Exchange Commission / SEC
- Extension of Credit
- Trading Suspensions
- Issuers Repurchasing Their Own Securities
- Tender Offers
- Stockholders Owning % of An Issuer’s Equity Securities
- Short Sales
- Regulation of Exchange Short Sales
- Affirmative Determination
- NASDAQ NMS Short Sales
- Regulation SHO
- Rule Definitions and Order Marking
- Rule T Temporary Short Sale Suspension Rule
- Rule Security Borrowing and Delivery Requirements
- Threshold Securities
- Block Trades
- Trading Along
- Manipulative and Deceptive Devices
- Capping
- Pegging
- Front Running
- Trading Ahead
- Painting the Tape
- Marking the Open
- Marking the Close
- Circuit Breakers
- Market On Close Orders
- The NASDAQ Market
- Market Makers
- NASDAQ Subscription Levels
- Level I
- Level II
- Level III
- Registering as a Market Maker
- Registering as a Market Maker In an OTC BB Security
- Piggybacking a Quote
- Payments For Market Making
- NASDAQ Quotes
- NASDAQ Execution Systems
- NASDAQ Market Center Execution System / Super Montage
- Super Montage Order Protection Feature
- Times For Entering a Quote
- The Opening Cross
- Order Imbalances
- The NASDAQ Official Opening Price / NOOP
- The Closing Cross
- Quotes Entered Through NASDAQ Market Center Execution System
- Updating NASDAQ Quotes
- Non-Directed Orders
- Preferenced Orders
- Directed Orders
- The Alternative Display Facility / ADF
- Trade Reporting and Comparison Service/TRACS
- Advanced Computerized Execution System/ACES
- The Order Audit Trail System / OATS
- Electronic Communication Networks / ECNs
- Third Market
- NASD % Markup Policy
- Mark Ups / Mark downs When Acting as a Principal
- Riskless Principal Transactions
- Proceeds Transactions
- Dominated and Controlled Markets
- Automated Confirmation System / ACT Market Center Trade Reporting Service
- ACT Trade Scan
- Which Side of The Trade Reports to Act?
Chapter Six: MSRB Rules and Regulations
- Introduction
- Municipal Bonds
- Issuing Municipal Securities
- Selecting an Underwriter
- Creating a Syndicate
- Syndicate Accounts
- Submitting The Syndicate Bid
- Determining The Re Offering Yield
- Awarding The Issue
- Order Period
- Allocation Municipal Bond Orders
- Pre Sale Orders
- Syndicate Orders / Group Net Orders
- Designated Orders
- Member Orders
- Member Related Orders
- Sale Date
- When Issued Confirmations
- Final Confirmations
- Other Types of Municipal Underwritings
- Syndicate Operation and Settlement
- The Official Statement
- Bond Counsel
- The Legal Opinion
- Potential Conflicts of Interest For Municipal Bond Underwriters
- Acting As a Financial Advisor to the Issuer
- Information Obtained While Acting As a Fiduciary
- Acting as a Financial Advisor and Underwriter
- Municipal Fund Securities
- Municipal Bond Trading
- Bona Fide Quotes
- Informational Quotes
- Out Firm Quotes
- Executing Customer’s Municipal Bond Orders
- Customer Confirmations
- Confirmations for Zero Coupon Municipal Bonds
- Confirmations for Municipal CMOs
- Confirmations for Variable Rate Municipal Bonds
- Yield Disclosure
- Recommending Municipal Bonds
- Municipal Bond Advertising
- Municipal Bond Insurance
- Political Contributions
- Registration Requirements for Municipal Securities Professionals
- Municipal Securities Rule Making Board / MSRB
- MSRB General Rules
Pretest Answer Key
- Chapter One: Supervision of Brokerage Office Personnel & Procedures
- Chapter Two: General Supervision & Customer Recommendations
- Chapter Three: Supervision of Customer Accounts
- Chapter Four: Sales Supervision of New Issues
- Chapter Five: Supervision of the Secondary Market
- Chapter Six: MSRB Rules and Regulations
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