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Finra Series-6 Exam - Topic 10 Question 54 Discussion

Actual exam question for Finra's Series-6 exam
Question #: 54
Topic #: 10
[All Series-6 Questions]

The Securities Exchange Commission consists of:

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Suggested Answer: A

Among other things, the trade confirmation that Anna receives must stipulate the items described in Selections I and III only. The trade confirmation that Anna receives from GetErDone must stipulate the time and date of the transaction, the number of shares sold, and the price at which they were sold. The exchange or ECN on which the transaction was executed is not provided on the confirmation statement. Whether GetErDone acted as a principal or a broker in the transaction does need to be stipulated, but in this instance GetErDone acted as a broker, not a principal. GetErDone did not itself buy the shares from Anna.


by Jaclyn at Jan 10, 2023, 12:29 PM

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Bethanie
4 months ago
I thought it was 7 members, but I guess I was wrong!
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Rosendo
4 months ago
Nope, it's 5, with Senate approval too.
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Marjory
4 months ago
Wait, are you sure it's not 6 members? That sounds off.
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Stephaine
4 months ago
Yeah, I agree, that's how it works!
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Coral
4 months ago
It's definitely 5 members, appointed by the President.
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Sheridan
5 months ago
I thought the SEC was appointed by the President, but I can't recall if it was with Senate approval or not.
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Cecil
5 months ago
I feel like I saw a question about the SEC structure before, and it was definitely not 6 or 7 members.
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Edna
5 months ago
I remember studying that the SEC is made up of 5 members, and they need Senate approval. That sounds like option B.
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Brittney
5 months ago
I think the SEC has 5 members, but I'm not sure if they're appointed by the President or someone else.
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Micheline
5 months ago
Hmm, I'm a bit confused here. There are a few options that seem plausible, but I'm not entirely sure which one is the correct action to resolve the outage. I'll need to think this through carefully.
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An
5 months ago
This seems like a straightforward question about security incident management. I think the key is to focus on the factors that determine the severity of an incident.
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Susana
5 months ago
I'm a bit unsure about the other options. I'll need to review my notes on HPE OneView and the different hardware components it manages.
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Earleen
5 months ago
Hmm, I'm a bit unsure about this one. I know QoS is all about managing network traffic, but I'm not sure I fully grasp the specific conditions where an outbound policy would be most useful.
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Casey
5 months ago
I think the answer is A. We have to include a reinforcement procedure when using punishment, no exceptions. Punishment alone is never recommended in behavior analysis.
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Maricela
5 months ago
I'm a bit confused by all the different services and databases involved. I'll need to make sure I fully understand the relationships and dependencies before I can decide on the best solution.
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Shenika
9 months ago
I'm going with B. You can't go wrong with the good old checks and balances of the President and Senate.
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Alayna
8 months ago
Definitely going with B, it just makes sense to have that level of approval.
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Merilyn
8 months ago
Yeah, B makes sense, it's important to have that oversight.
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Alica
8 months ago
I think B is the best choice too, it ensures accountability.
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Ronnie
8 months ago
I agree, B seems like the most reliable option.
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Audry
9 months ago
Option C is just plain wrong. The SEC is a federal agency, not some FINRA-controlled organization.
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Omer
8 months ago
D) 5 members, appointed by the Secretary of Treasury of the U.S.
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Stephaine
8 months ago
B) 5 members, appointed by the President of the U.S., with Senate approval
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Marci
9 months ago
A) 6 members, elected by member firms.
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Malcolm
10 months ago
Haha, imagine if FINRA appointed the SEC members. Talk about a potential conflict of interest!
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Dong
9 months ago
C) 7 members, appointed by FINRA.
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Marylou
9 months ago
B) 5 members, appointed by the President of the U.S., with Senate approval
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Sabina
9 months ago
A) 6 members, elected by member firms.
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Paola
10 months ago
I was leaning towards D, but I guess the Treasury Secretary doesn't have the power to appoint the SEC members. Good to know!
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Sylvie
9 months ago
I was leaning towards D, but I guess the Treasury Secretary doesn't have the power to appoint the SEC members. Good to know!
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Allene
9 months ago
B) 5 members, appointed by the President of the U.S., with Senate approval
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Millie
9 months ago
A) 6 members, elected by member firms.
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Rosendo
10 months ago
Option B seems like the correct answer. The SEC is an independent agency, so the President appoints the members with Senate approval.
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Timothy
8 months ago
Definitely. The appointment process ensures that the SEC operates free from political influence.
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Belen
8 months ago
I agree. It's important for the SEC to remain independent in order to carry out its regulatory duties effectively.
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Anthony
8 months ago
Yes, that's right. The SEC is an independent agency, so the President has the authority to appoint its members.
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Ty
8 months ago
I think option B is correct. The President appoints the members with Senate approval.
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Roosevelt
8 months ago
Definitely, it helps ensure impartiality in regulating the markets.
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Alverta
9 months ago
That's how the SEC operates, it's important to have independence.
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Ciara
9 months ago
Yeah, the President appoints the members with Senate approval.
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Belen
9 months ago
I think you're right, option B makes sense.
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Carmelina
10 months ago
I'm not sure, but I think it's D) 5 members, appointed by the Secretary of Treasury of the U.S. That also sounds plausible to me.
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Leonardo
11 months ago
I agree with Cherilyn, that answer makes sense because the President appoints the SEC members.
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Cherilyn
11 months ago
I think the answer is B) 5 members, appointed by the President of the U.S., with Senate approval.
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