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{Study ? of the Week} For the question below, assume that each of the answers is solely for the benefit of the recipient and are classified as gifts, not business entertainment.
Which of the following gifts would be a violation under Rule 3220:

Answers:
A. A $20 giftcard given to a salaried employee
B. A holiday fruit basket valued at $80 paid for, or provided by, a third party vendor
C. A vase valued at $120, given as a wedding present and paid for by the employee
D. A dinner cruise valued at $120, if written consent was provided by the recipient's employer

Post your answer below & check back later this week for the correct answer & full rationale!
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Solomon Exam Prep is excited to announce that we now offer an Online Exam Simulator for the Series 51 MSRB Municipal Fund Securities Limited Principal Qualification Exam!
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Solomon Exam Prep

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"I sat for the Series 66 on March 16th. I got an 85. I give all kudos to Solomon. The study materials were excellent."
-William Crull, Metairie, LA
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#Series52  Audiobook now available!
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"I took another vendors 24 course but it did not compare to how Solomon Exam Prep for Series 24 prepared me. The material and practice exams, especially the timed exams, were broken up by sections, similar to the FINRA Exam. This really helped in allowing me to understand which section(s) I needed to spend more time on/hit harder. Thank you Solomon!!!" -Jim Ruckman, Mass Mutual
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{Exam Alert} Hart-Scott-Rodino Act Thresholds Updated for 2014 https://solomonexamprep.com/news/series-79/exam-alert-hart-scott-rodino-act-thresholds-updated-for-2014/
This alert applies to the #Series24  and the #Series79  
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{Study ? of the Week} Which of the following are correct dollar minimums for the Bank Secrecy Act's requirements for broker-dealers?
I. $3,000 or more received or transmitted must be recorded in a monetary instrument log (MIL)
II. $5,000 or more received or transmitted must be recorded in a monetary instrument log (MIL)
III. Cash transaction of $5,000 or more must be reported to the IRS
IV. Cash transaction of $10,000 or more must be reported to the IRS

Answers:
A. I and III
B. I and IV
C. II and III
D. II and IV

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Correct Answer: B. I and IV

Rationale: In any one day, a transmittal of $3,000 or more or a cash transaction must be recorded in a monetary instrument log (MIL) and cash transaction of $10,000 or more must be reported to the IRS.
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{Study ? of the Week} CMOs were primarily created to distribute the amount of _________________ risk to investors with various risk tolerances. Choose the BEST answer.

Answers:
A. default
B. credit
C. prepayment
D. interest rate

Post your answer below & check back later this week for the correct answer & full rationale!
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Correct Answer: C. prepayment

Rationale: Unlike a traditional mortgage backed security that has a single coupon rate and maturity date, a collateralized mortgage obligation is a pool of mortgage-backed securities and/or individual mortgages which is structured into several classes of bondholder, each with a different interest rate and term. With a CMO, streams of interest and principal payments are sliced up and distributed to different classes of investors in separate tranches (slices, in French). CMOs were first introduced in 1983 to offer MBS investors a greater variety of maturities and certainty of cash flow. By redistributing prepayment risk away from some tranches and toward others, CMOs allow investors to choose how much of this type of risk they are willing to accept over a given time horizon. Tranches with the lowest exposure to prepayments offer lower yields to investors wanting to reduce their risk exposure. Tranches that accept higher prepayment risks attract investors seeking higher yields.
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Solomon Exam Prep has helped thousands of financial professionals pass their FINRA and NASAA licensing exams. The Solomon Exam Prep training system includes online exam simulators, print and digital training manuals, audiobooks, on-demand and live online classes, practice exam workbooks and mobile apps to address the learning needs of all kinds of test takers.

Solomon Exam Prep is led by founders Karen and Jeremy Solomon, both of whom have maintained a lifelong commitment to advancing learning and education. Solomon Exam Prep draws from a pool of seasoned educators, practitioners and communicators who are experienced in both investment education and the process of adult learning.