General Securities Sales Supervisor (Series10) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the General Securities Sales Supervisor Exam. Practice with flashcards and multiple choice questions, each with hints and explanations. Ace your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Under MSRB rules, where must dealers keep copies of the MSRB manual?

A In the trading department only
B In the underwriting department only
C Within any office involved in municipal underwriting, trading, or sales
D Only in the firm’s back office

The correct answer is: C Within any office involved in municipal underwriting, trading, or sales

Dealers are required by the Municipal Securities Rulemaking Board (MSRB) to maintain copies of the MSRB manual within any office that is involved in municipal underwriting, trading, or sales. This ensures that personnel who are directly engaged in these critical functions have immediate access to the regulatory guidelines and requirements established by the MSRB. Having the manual available in relevant departments like trading, underwriting, and sales is vital for compliance and helps to promote adherence to rules governing municipal securities. Keeping the manual limited to just one department, such as trading or underwriting, would hinder access for other involved personnel and could lead to issues with compliance if those rules are not known or adhered to across the relevant departments. This approach reflects the MSRB's commitment to ensuring that all dealers maintain robust operational standards and are informed about regulatory requirements that affect their activities in the municipal securities market.