SIE Exam Question 224: Answer and Explanation

Question: 224

What is a dealer violation involving a dealer not honoring his or her published NASDAQ quote called?

• A. Backing away
• B. Pulling out
• C. Canceling
• D. Revocation

Correct Answer: A

Explanation:

Once quotes are published over the NASDAQ workstation, they must be honored. They are considered to be firm quotes, and a dealer refusing to honor his or her firm quotes is committing a violation known as backing away.