Series 14 Sample Questions
Our Questions Mimic the Real Exam
Our courses reinforce retention over memorization with in-depth content and practice questions that mimic the actual test — so there are no surprises come exam day.
Closed & Open Stem
Most/Least/Best
Except or Not
Complex Multiple Choice
Lena is a principal at her firm. Today she had to send a rep home on the spot for sending an unauthorized order. She was trained on how to document her actions—years ago—but she’s never actually been in this situation and doesn’t remember what to do. Which element of a firm’s supervisory system is most likely to help Lena document that she acted properly?
A.
Written supervisory procedures
B.
Internal inspections
C.
Chain of command
D.
Supervisory controls
The computation to determine how much is needed in a customer reserve bank account must occur:
A.
Quarterly
B.
Monthly
C.
Weekly
D.
Daily
Andrew fills out an order ticket for a trade that he executes for a customer. He later realizes that he forgot to note that the order was subject to his discretionary authority. He makes the change and then resubmits the ticket. Which of the following is true?
A.
Once filled out an order ticket cannot be changed, so Andrew could be penalized for his actions
B.
Because whether or not a trade is subject to discretionary authority is not information that is required on an order ticket, Andrew did nothing wrong
C.
Once an order ticket is filled out any changes on the ticket must be approved by a manager, so Andrew could be penalized for his actions
D.
Andrew is allowed to make this change