Finra Series-6 Exam - Topic 9 Question 86 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 86
Topic #: 9

[All Series-6 Questions]

The fees that member firms must pay to FINRA are based on:

i. the total market value of its assets.

ii. the number of registered representatives it employs.

iii. the number of branch offices it has.

AI only

BI and III only

CII and III only

DI, II, and III

Show Suggested Answer

Suggested Answer: D

Upon receiving a complaint about one of its member firms, FINRA may require any person associated with the member firm to provide information and to testify under oath; it may inspect and copy the books, records, and accounts of the member firm; and it may share information obtained from its investigation of a member firm with a foreign regulatory agency. The foreign regulator must agree to treat the information confidentiality, and the agreement with the foreign regulator is predicated on two requirements: ''(A) the other regulator party to the agreement must have jurisdiction over common regulatory matters; and (B) the agreement must require the other regulator to reciprocate and share with FINRA information of regulatory interest or concern to FINRA.''

by Omer at Sep 12, 2024, 04:51 PM

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Telma

8 months ago

Wait, are you sure about that? Seems like a lot to consider!

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Stacey

9 months ago

I agree, all three factors matter for the fees.

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Candida

9 months ago

I think it's just I and III, not II.

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Agustin

9 months ago

I thought it was just about total market value.

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Minna

9 months ago

It's definitely based on the number of registered reps and branch offices.

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Chantay

10 months ago

I thought it was just the number of branch offices and registered reps, but I might be mixing it up with another topic. Is that C?

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Rhea

10 months ago

I feel like I read something about all three factors being considered for the fees, but I can't recall the specifics. Could it be D?

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Marlon

10 months ago

I remember practicing a question similar to this, and I think it was just about the number of representatives and branch offices. Maybe it's C?

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Amira

10 months ago

I think the fees are based on the number of registered representatives and branch offices, but I'm not entirely sure about the total market value of assets.

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Shayne

10 months ago

This is a tricky one. I'm not totally sure which factors FINRA considers, but I'll try to eliminate the options that don't seem right. Maybe I can narrow it down from there.

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Beth

11 months ago

Okay, I've got this. The fees are based on the total market value of the firm's assets, the number of registered representatives, and the number of branch offices. I'm pretty confident option D is the correct answer.

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Avery

11 months ago

Hmm, I'm a bit unsure about this one. I know FINRA fees are based on certain firm characteristics, but I can't quite remember all the details. I'll have to think it through step-by-step.

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Barbra

11 months ago

This seems like a straightforward question about FINRA fees. I'll need to carefully read through the options and think about which factors FINRA likely considers when determining member firm fees.

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Deeann

11 months ago

Okay, I think I've got it. Creating a test class and running the tests in the Developer Console seems like the way to go. That will help me verify the functionality is working as expected.

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Chauncey

1 year ago

I'm just hoping I can pass this exam and never have to think about FINRA fees again. Eeny, meeny, miny, moe... D it is!

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Selma

1 year ago

Yes, D includes all the factors that determine the fees member firms must pay to FINRA.

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Ashlee

1 year ago

I agree, D is the correct answer.

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Celia

1 year ago

D it is!

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Shaun

1 year ago

I'm just hoping I can pass this exam and never have to think about FINRA fees again.

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Fidelia

1 year ago

This is like a trick question or something. I bet the real answer is that the fees are based on how many doughnuts the FINRA staff can eat in a day. Option D it is!

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Frederica

1 year ago

Wait, they charge us for having more branch offices? That's just wrong, man. I'm going with option B out of principle.

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Ming

1 year ago

Huh, I thought the fees were just based on the firm's total assets. Looks like I need to brush up on my FINRA knowledge. Option A seems a bit too simple, so I'll go with D just to be safe.

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Cassi

1 year ago

Yeah, it's better to be safe than sorry when it comes to fees.

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Natalie

1 year ago

I'm going with D as well, covering all the bases.

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Rebeca

1 year ago

I agree, I think it's based on more than just total assets.

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Dean

1 year ago

I'm pretty sure the fees are based on the number of registered reps and branch offices, but I'm not sure about the total asset value. I'll have to go with option C.

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Kina

1 year ago

User 3: Same here, I think that's the right choice.

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Viola

1 year ago

User 2: Yeah, I agree. I'm going with option C, II and III only.

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Theodora

1 year ago

User 1: I think the fees are based on the number of registered representatives and branch offices.

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King

1 year ago

The fees are definitely based on all three factors - the firm's total assets, the number of registered reps, and the number of branch offices. Option D is the correct answer.

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