Series 99 – Operations Professional Firm Practice Questions

What is the primary function of the Operations Professional in a brokerage firm?

• AA. Conducting market research
• BB. Providing investment advice
• CC. Risk management
• DD. Settling trade transactions

What is the role of a clearing firm?

• AA. Manage client accounts
• BB. Facilitate settlement of transactions
• CC. Execute trades
• DD. Provide financial advice

For how long must a firm retain records pertaining to its customers?

• AA. 1 year
• BB. 5 years
• CC. 7 years
• DD. 3 years

When must a firm report a suspicious transaction?

• AA. Within 24 hours
• BB. Immediately
• CC. Within 48 hours
• DD. Within 72 hours

Which document outlines a firm's policies and procedures for anti-money laundering?

• AA. Disclosure document
• BB. Compliance manual
• CC. Operations manual
• DD. Code of ethics