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Series 53 - Municipal Securities Principal Practice Exam 05

Practice exam for Series 53 - Municipal Securities Principal.

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Question 1 of 1000%

Time remaining120:00

Attempts allowedUnlimited

Difficulty mixE • M • H

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Question 1

MEDIUM

120:00

A municipal securities principal is reviewing a trade report submitted to RTRS. Which scenario most clearly requires the principal to correct and resubmit the report?

Trade reports must be accurate, including capacity (principal/agent). An incorrect capacity is a reportable error that should be corrected and resubmitted to RTRS.

Select one answer

A customer buy of a municipal bond is reported within the required timeframe, but the dealer does not include the customer’s account number

A dealer-to-dealer sale is reported with the correct price and time, but the capacity is incorrectly marked as principal instead of agent

A customer sale is reported within the required timeframe, but the yield is not included on the confirmation

A dealer-to-dealer purchase is reported late due to a system outage and is entered the next business day with a note in the firm’s internal log

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Series 53 - Municipal Securities Principal Practice Exam 05

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