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SIE Understanding Trading, Customer Accounts and Prohibited Activities Practice Question 64

Question: 64

Which of the following directs that municipal securities dealers and broker-dealers who assist a municipality to offer municipal securities to the general public do their reasonable best to make certain the municipality submits to the MSRB expected information that would aid a potential investor in making a decision whether to buy the offered security?

Correct Answer: A

Explanation:

A: Choice A is correct because such information as changes in the financial strength of the municipality offering the security would be helpful to a potential investor making a decision whether to purchase the security. Choice B is incorrect because this rule has to do with the content and frequency of customer account statements sent by FINRA member firms to their customer. Choice C is incorrect because this rule specifies that the dealer informs the customer, at least by the trade date, any relevant aspects of the investment and trade. Choice D is incorrect because this rule deals with quotes made reflecting prices and quantities of municipal securities actually available by the firm making the quotes.

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