Saturday, June 10, 2023
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Handling Customer Accounts, Taxation, Margin (~ 35 questions)

  1. Requirements for opening customer accounts, including approvals
  2. Rules governing the conduct of accounts
  3. Record keeping
  4. U.S. federal taxation
  5. Tax treatment of foreign securities purchased by U.S. Citizens
  6. Tax treatment of wash sales
  7. Key terms-e.g., margin, hypothecation, rehypothecation
  8. Requirements and characteristics-approvals, ineligible accounts, eligible/ineligible securities, Regulation T, SRO requirements
  9. Calculations in equity margin accounts (long and/or short positions)