Series 24 – General Securities Principal Firm Practice Questions

A client wants to open a margin account. What must they provide to your firm?

• AA. Just the social security number
• BB. Only a government ID
• CC. A signed margin agreement
• DD. A utility bill

Under what condition must a firm file Form U4?

• AA. Both A and B
• BB. When an employee is terminated
• CC. Only for transfers
• DD. When an employee is hired

What is a potential consequence of a firm failing to comply with anti-money laundering regulations?

• AA. Approval by regulators
• BB. Loss of license
• CC. No consequences
• DD. Increase in business

An investor wants to conduct a trade, but there are suspicious signs of possible market manipulation. What should the firm do?

• AA. Report the activity to compliance
• BB. Ignore it if it's a small trade
• CC. Advise the customer accordingly
• DD. Execute the trade immediately