Series 10 Exam Question 48: Answer and Explanation

Question: 48

Which of the following would be considered firm?

I. A price quoted for a non-Nasdaq security received from a dealer over the phone

II. A two-sided quote for a non-Nasdaq DPP

III. A two-sided bond quote

IV. A two-sided priced quote from a dealer listed in the pink OTC market

• A. I and II
• B. I, III, and IV
• C. II and IV
• D. I, II, III, and IV

Correct Answer: B

Explanation:

The price quote received over the phone, a two-sided bond quote, and the pink sheet would be firm. Quotes for DPPs are not firm quotes.