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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
7 months ago
I thought it was 7 members, but I guess I was wrong!
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Rosendo
7 months ago
Nope, it's 5, with Senate approval too.
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Marjory
7 months ago
Wait, are you sure it's not 6 members? That sounds off.
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Stephaine
7 months ago
Yeah, I agree, that's how it works!
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Coral
7 months ago
It's definitely 5 members, appointed by the President.
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Sheridan
8 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
8 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
8 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
8 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
8 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
8 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
8 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
8 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
8 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
8 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
1 year 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
11 months ago
Definitely going with B, it just makes sense to have that level of approval.
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Merilyn
11 months ago
Yeah, B makes sense, it's important to have that oversight.
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Alica
11 months ago
I think B is the best choice too, it ensures accountability.
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Ronnie
11 months ago
I agree, B seems like the most reliable option.
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Audry
1 year ago
Option C is just plain wrong. The SEC is a federal agency, not some FINRA-controlled organization.
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Omer
11 months ago
D) 5 members, appointed by the Secretary of Treasury of the U.S.
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Stephaine
11 months ago
B) 5 members, appointed by the President of the U.S., with Senate approval
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Marci
12 months ago
A) 6 members, elected by member firms.
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Malcolm
1 year ago
Haha, imagine if FINRA appointed the SEC members. Talk about a potential conflict of interest!
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Dong
12 months ago
C) 7 members, appointed by FINRA.
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Marylou
1 year ago
B) 5 members, appointed by the President of the U.S., with Senate approval
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Sabina
1 year ago
A) 6 members, elected by member firms.
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Paola
1 year 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
1 year 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
1 year ago
B) 5 members, appointed by the President of the U.S., with Senate approval
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Millie
1 year ago
A) 6 members, elected by member firms.
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Rosendo
1 year 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
11 months ago
Definitely. The appointment process ensures that the SEC operates free from political influence.
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Belen
11 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
11 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
11 months ago
I think option B is correct. The President appoints the members with Senate approval.
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Roosevelt
11 months ago
Definitely, it helps ensure impartiality in regulating the markets.
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Alverta
12 months ago
That's how the SEC operates, it's important to have independence.
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Ciara
12 months ago
Yeah, the President appoints the members with Senate approval.
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Belen
12 months ago
I think you're right, option B makes sense.
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Carmelina
1 year 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
1 year ago
I agree with Cherilyn, that answer makes sense because the President appoints the SEC members.
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Cherilyn
1 year ago
I think the answer is B) 5 members, appointed by the President of the U.S., with Senate approval.
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