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Finra Series-6 Exam - Topic 6 Question 6 Discussion

Mr. Shortfall placed a market order to buy 100 shares of Google (GOOG) with GetErDone Broker-Dealers. The market order was executed at $530 a share. In accordance with Regulation T:
D) Both B and C are true statements.
A) Mr. Shortfall must pay for the purchased shares within 3 business days.
B) Mr. Shortfall must pay for the purchased shares within 5 business days.
C) GetErDone can request an extension from FINRA or another SRO for Mr. Shortfall if he is unable to pay for the shares within 5 business days.

Finra Series-6 Exam - Topic 6 Question 6 Discussion

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

Mr. Shortfall placed a market order to buy 100 shares of Google (GOOG) with GetErDone Broker-Dealers. The market order was executed at $530 a share. In accordance with Regulation T:

Show Suggested Answer Hide Answer
Suggested Answer: D

After his market order to buy shares of GOOG is executed, Mr. Shortfall must pay for the shares within 5 business days. If he is unable to do so within this time period, GetErDone can request an extension from FINRA or another SRO for him.


by Elvera at May 03, 2022, 10:08 PM

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Shawnda
9 months ago
Both B and C sound right to me!
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Leslie
10 months ago
I thought it was 3 days for market orders.
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Nan
10 months ago
Wait, can they really get an extension? That seems odd.
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Jill
10 months ago
Totally agree, it's 5 days for sure!
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Valda
10 months ago
Regulation T requires payment within 5 business days.
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Theodora
10 months ago
I’m leaning towards option D because it seems like both B and C could be correct based on what I studied.
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Junita
11 months ago
I feel like GetErDone could ask for an extension, but I can't recall the exact rules about that.
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In
11 months ago
I practiced a similar question where it was definitely 5 business days for payment under Regulation T.
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Cyril
11 months ago
I think I remember Regulation T saying something about payment deadlines, but I'm not sure if it's 3 or 5 days.
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Malcom
11 months ago
Okay, let me see. I think the objective is to create the initial version of the Architecture Roadmap. That makes sense as a key output of the Preliminary Phase, right?
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Shelton
11 months ago
Hmm, I'm a bit confused on this one. I know Intune is for mobile device management, but I'm not sure which platform specifically requires IT deployment.
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Gerri
11 months ago
Hmm, I'm not entirely sure about this one. I'll have to review the material on virtual gateways and message delivery.
upvoted 0 times
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