Free practice test

Brokerage Clerk Practice Test

Check what you know about the brokerage clerk job with 15 free questions and instant explanations.

Updated By the Career Education Institute Curriculum Team
About this practice test

15 multiple-choice questions on brokerage clerk knowledge, safety and vocabulary. Submit to see your score and explanations, or open any question’s answer as you go. Nothing is saved or shared.

Question 1 of 15T+1 means settlement:
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Answer: One day after trade. Settlement.

Question 2 of 15A break is:
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Answer: A record mismatch. Error.

Question 3 of 15ACATS handles:
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Answer: Account transfers. Transfers.

Question 4 of 15FINRA is:
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Answer: A regulator. Regulator.

Question 5 of 15Report trade errors:
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Answer: Immediately. Transparency.

Question 6 of 15Which term matches this definition: “Borrowing to invest.”
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Answer: Margin. Margin: Borrowing to invest.

Question 7 of 15What does “Back office” mean?
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Answer: Operations support.. Back office: Operations support.

Question 8 of 15Which term matches this definition: “Matching records.”
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Answer: Reconciliation. Reconciliation: Matching records.

Question 9 of 15What does “Cusip” mean?
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Answer: Security ID number.. Cusip: Security ID number.

Question 10 of 15Which term matches this definition: “Settlement one day after trade.”
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Answer: T+1. T+1: Settlement one day after trade.

Question 11 of 15What does “Settlement” mean?
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Answer: Completing a trade.. Settlement: Completing a trade.

Question 12 of 15Which term matches this definition: “Firm holding assets.”
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Answer: Custodian. Custodian: Firm holding assets.

Question 13 of 15What does “DTC” mean?
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Answer: Depository Trust Company.. DTC: Depository Trust Company.

Question 14 of 15Which term matches this definition: “Company payout to shareholders.”
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Answer: Dividend. Dividend: Company payout to shareholders.

Question 15 of 15What does “Trade” mean?
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Answer: Buy or sell order.. Trade: Buy or sell order.

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