FINRA SIE Exam Part 3 Unit 27|20 Questions with Verified Answers,100% CORRECT, Exams of Business Fundamentals

Download FINRA SIE Exam Part 3 Unit 27|20 Questions with Verified Answers,100% CORRECT and more Exams Business Fundamentals in PDF only on Docsity! FINRA SIE Exam Part 3 Unit 27|20 Questions with Verified Answers FINRA - CORRECT ANSWER who holds BDs to general standards regarding all member firm communications - all member firm communications must be based on the principles of fair dealing and good faith - institutional - retail - correspondence - CORRECT ANSWER in accordance with FINRA, what are the three categories of communication? institutional communication - CORRECT ANSWER category of communication - means any written (including electronic) communication that is distributed or made available only to institutional investors, but it does not include a member's internal communication (ex. internal memos) - another member firm of RR - a bank - a savings and loan association - an insurance company - a registered investment company (mutual fund) - an employee benefit plan - a governmental entity or subdivision - a person acting solely on behalf of an institutional investor - any entity with $50 million or more of total assets, including natural persons - CORRECT ANSWER what are some examples of institutional investors retail communication - CORRECT ANSWER category for communication - means any written (including electronic) communication that is distributed or made available to more the 25 retail investors within any 30-calendar-day period - a copy must be filed with FINRA retail investor - CORRECT ANSWER any person other than an institutional investor, regardless of whether the person has an account with the member correspondence - CORRECT ANSWER category for communication - means any written (including electronic) communication that is distributed or made available to 25 or fewer retail investors within any 30-calendar-day period - each firm must establish if it will require principal approval of correspondence before use or allow for post-use approval True - CORRECT ANSWER True or False: if they are not institutional customers, they are retail customers the Telephone Consumer Protection Act of 1991 (TCPA) - CORRECT ANSWER Act that was administered by the Federal Communications Commission (FCC) - was enacted to protect consumers from unwanted telephone solicitations (telemarketing) - governs commercial calls, recorded solicitations from auto-dialers, and solicitations and advertisements to fax machines and modems telephone soliciation - CORRECT ANSWER a telephone call initiated for the purpose of encouraging the purchase of or investment in property, goods, or services - ensure that anyone making cold calls informs prospects of their name, the company's name, and the company's telephone number or address - ensure that solicitation occurs only between 8am and 9pm based on the prospect's time zones - no calls to numbers on the company or federal do-not-call list - CORRECT ANSWER what are the basic rules under TCPA? - made to parties with whom the caller has established business relationship or from whom the caller has prior permission or invitation - made on behalf of a tax-exempt nonprofit organization - not made for a commercial purpose - made for legitimate debt collection purposes - CORRECT ANSWER the TCPA act exempts calls that...