General Securities Sales Supervisor (Series10) Practice Exam

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Study for the General Securities Sales Supervisor (Series 10) Exam. Enhance your skills with multiple choice questions and explanations. Master your exam with detailed insights and tips!

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When must investment company advertising be filed with FINRA?

10 business days prior to first use
10 business days after first use
10 business days prior for the first year
No filing requirement

The correct answer is: 10 business days after first use

Investment company advertising must be filed with FINRA within 10 business days after the first use. This requirement is put in place to ensure that the advertising material complies with established guidelines and that investors receive accurate information in a timely manner. This post-use filing allows FINRA to review the advertising content after it has been disseminated to the public, providing a safeguard against misleading or non-compliant material. The rationale behind this timeframe is to balance the need for timely communication from investment companies with the regulatory oversight necessary to protect investors from potentially deceptive advertising. This procedure ensures that firms are not unduly delayed in getting their messages out while still being held accountable for the content they promote. In contrast, the specifics of the other options would either imply a preemptive filing that doesn't align with the regulations or suggest that no oversight is necessary, which wouldn't provide the level of investor protection mandated by FINRA standards.