Reportable events are the disclosures that must be added to a registered person’s record: customer complaints, arbitrations, criminal charges, regulatory actions, liens and bankruptcies. The mechanism is a Form U4 amendment, generally within 30 days of the firm learning of the event.
18% of the bank for this topic is rated hard — well above the exam average. Budget more time here than its blueprint weight alone suggests.
Question-type mix across the 125 questions in this topic.
With the explanation — which is the part that teaches.
The Uniform Application for Securities Industry Registration (Form U4) is the document amended to keep a registered person's disclosure information current. The U5 is used at termination, while the BD and BR are firm-level filings.
Political contributions by covered associates can create reporting, review, and potential business-restriction consequences when the firm seeks distribution or solicitation business with government entities.
Current FINRA Rule 3220 uses a $300 per-individual annual limit for business-related gifts covered by the rule, so a $350 covered gift exceeds the limit.
Every one carries the same kind of explanation. Ten a day at no cost, no card.
Real-format questions, an explanation on every answer, and a mistake bank that only clears when you get it right.
