FINRA Series 99 Certification Exam Sample Questions

Series 99 Dumps PDF, Operations Professional Exam Dumps, download OS free Dumps, FINRA Operations Professional Exam exam questions, free online OS exam questionsYou have to pass the Series 99 exam to receive the certification from FINRA. To increase the effectiveness of your study and make you familiar with the actual exam pattern, we have prepared this FINRA Operations Professional Exam sample questions. Our Sample FINRA Operations Professional Exam Practice Exam will give you more insight about both the type and the difficulty level of the questions on the FINRA OS exam.

However, we are strongly recommending practice with our Premium FINRA Series 99 - Operations Professional Exam Practice Exam to achieve the best score in your actual FINRA Series 99 Exam. The premium practice exam questions are more comprehensive, exam oriented, scenario-based and exact match of FINRA Operations Professional exam questions.

FINRA Operations Professional Exam Sample Questions:

01. Operations notices a trader repeatedly entering small buy orders in an illiquid stock in the final minutes of trading, apparently to push the closing price higher so an unrelated position is valued more favorably. How is this conduct BEST classified?
a) Best execution, because entering more orders improves the odds of a favorable fill.
b) An as/of correction, since the closing trades adjust the day's official record.
c) Market manipulation — specifically marking the close to move the closing price.
d) A permissible hedging strategy, because it protects the value of another position.
 
02. A bank reconciliation shows unexplained cash. Rather than investigate, an associate books an offsetting entry to a suspense account, never clears it, and then leaves it out of the trial balance provided for the firm's financial reporting. How should this conduct BEST be characterized?
a) Improper maintenance of records that misstates the books.
b) A permissible netting of the item under CNS.
c) Acceptable use of a suspense account because the books still balance.
d) A required WORM retention handling step.
 
03. While processing a disbursement request, an associate notices that an 82-year-old customer, normally soft-spoken and independent, is on the line with a new "financial helper" who answers every question, insists on a large wire to an unfamiliar third party, and tells the customer not to mention the request to family. What is the associate's BEST course of action?
a) Refuse the wire outright and immediately tell the customer their new helper is committing fraud.
b) Process the wire as instructed, since the account holder is competent and personally gave the instruction.
c) File a suspicious activity report directly from the operations desk before taking any other step.
d) Treat the pattern as a potential red flag of elder exploitation and escalate before processing the wire.
 
04. The stock-loan desk wants to lend out fully paid securities that are sitting in several customers' accounts to earn lending income. What is required before the firm may lend a customer's fully paid securities?
a) Only approval from the firm's FINOP
b) A separate written fully-paid lending authorization from the customer
c) A margin call issued to the customer
d) Nothing further, because the account agreement already permits any use of the securities
 
05. A firm's procedures refer to a "posting timeline" for its books and records. What does that requirement mean?
a) Only month-end postings to the ledgers are required.
b) Records may be posted whenever the desk finds it convenient.
c) Transactions must be recorded to the books currently and promptly.
d) Posting applies only to the stock record, not to the ledgers.
 
06. Two demands hit a customer's margin account in the same week: one triggered when equity fell below the firm's ongoing minimum-equity requirement, and one triggered by a new purchase that required the initial deposit set by federal rule.
Which pairing correctly identifies the two demands?
a) The equity shortfall is a maintenance call; the new-purchase deposit is a Regulation T call
b) The equity shortfall is a Regulation T call; the new-purchase deposit is a maintenance call
c) Both are Regulation T calls issued under Federal Reserve credit rules
d) Both are maintenance (house) calls set under FINRA rules
 
07. An operations associate learns that a customer who holds an individual account has died. Proper legal documentation for the estate has not yet been received. What is the appropriate action for the account?
a) Liquidate all positions immediately to remove market risk from the estate.
b) Continue accepting trade instructions from the deceased's spouse, who is joint on other accounts.
c) Automatically transfer the assets to the beneficiary named on the customer's life-insurance policy.
d) Restrict the account and accept no new instructions until proper estate documentation is received.
 
08. What is the essential feature of a "soft dollar" arrangement under the Section 28(e) safe harbor?
a) The firm rebates part of each commission back to the customer in cash
b) The adviser pays for research entirely out of its own management fee
c) Brokerage commissions pay for eligible research and brokerage services
d) Commissions are waived in exchange for a larger customer account balance
 
09. Within a short window, the firm receives a request to change a customer's address of record, then a request to add a new outside bank account for wire disbursements, then a request to reissue account checks. What should operations do FIRST?
a) Process the address change first, then the disbursement changes, since each request is routine on its own.
b) Treat the clustered changes as an identity-theft red flag and verify with the customer first.
c) Escheat the account because the address of record is now in question and may be invalid.
d) Update the address but categorically reject the new bank account, since bank changes are never permitted.
 
10. An associate is reviewing a customer's account and sees a series of trades the customer says they never placed, entered under a login the customer insists they never shared.
These facts most directly indicate which red flag, and what should the associate do FIRST?
a) A possible unauthorized-activity or account-intrusion red flag; escalate to a supervisor for review.
b) A churning violation by the customer's registered representative; report it directly to the exchange.
c) A normal reconciliation break; adjust the account to match the customer's expectation and move on.
d) A soft-dollar arrangement problem; refer the matter to the firm's commission-management group.

Answers:

Question: 01
Answer: c		 Question: 02
Answer: a		 Question: 03
Answer: d		 Question: 04
Answer: b		 Question: 05
Answer: c
Question: 06
Answer: a		 Question: 07
Answer: d		 Question: 08
Answer: c		 Question: 09
Answer: b		 Question: 10
Answer: a

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