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Exam Series 63 topic 1 question 142 discussion

Actual exam question from FINRA's Series 63
Question #: 142
Topic #: 1
[All Series 63 Questions]

Your client calls you with a market order to purchase 500 shares of the stock of Oracle and asks when payment will be due. If today is Wednesday, September
15th, you inform the client that payment is due on

  • A. Monday, September 20th.
  • B. Thursday, September 16th.
  • C. Friday, September 17th.
  • D. Saturday, September 18th.
Show Suggested Answer Hide Answer
Suggested Answer: A 🗳️
If your client places an order to purchase 500 shares of Oracle on the open market on Wednesday, September 15th, payment will be due on Monday,
September 20th. The settlement date for stock transactions is T + 3, which means the third business day after the trade. Saturday is not a business day.
by Lehj at March 14, 2020, 6:52 p.m.

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jaytic
3 years ago
Agreed its T+2
upvoted 1 times
...
Lehj
4 years, 1 month ago
Should be T+2
upvoted 1 times
...

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C (25%)
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