Take Our Quiz!

The Regulatory Compliance Accounting Department has some important information that you should be aware of.  These are frequently asked questions.  Take the quiz and check your answers below!

1. The Number of Business days your firm is required to give when exceeding a $500,000 Equity Withdrawal in a rolling 30-day calendar period
2. Termination of accountants must be reported to the SEC and DEA within this many days
3. FOCUS II reports must be filed with the SEC within this many days at the end of  every quarter
4. When a fax or telegraphic notice must be sent regarding material inadequacies in the accounting system.
5. A FOCUS report must be filed with the NASD within this many days to report a termination of a broker dealer
6. Early Warning for firms using the alternative method of calculating aggregate indebtedness occurs when net capital is below this amount of aggregate debt balances.
7. If you are a broker dealer that has been in business for less than a year, your ratio of debt to net capital cannot exceed _____ to 1
8. If you are a broker dealer that has been in business for more than a year, your ratio of debt to net capital cannot exceed ______ to 1.
9. Your firm’s ratio of subordinated debt to total capital cannot exceed ____ percent for ____ days.

1. 90
2. 24
3. 2
4. 15
5. 17
6. 5
7. 8
8. 15
9. 70
10. 2

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