Apply Short Sale Rules
Series 7 · Flashcards · Application
SERIES 7 · FLASHCARDS
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QUESTION
Which marking is correct when a customer does not own the security and wants to sell it?
QUESTION
Which pricing is permitted under Rule
201
201
201
: short at NBBO bid or short above the national best bid?
QUESTION
Which marking is correct when Rule
201
201
201
is in effect and the short sale qualifies for an exemption?
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ANSWER
Mark the order as "short exempt". Rule 201 exemptions permit short exempt marking for activities like odd-lot transactions or market making.
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