Investment Company and. Variable Contracts Products Principals (Series 26) Practice Exam

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How many days after the end of the calendar quarter are FOCUS II reports due?

10 days
15 days
17 days
20 days

The correct answer is: 17 days

FOCUS II reports, which detail the financial status of broker-dealers, are required to be filed by firms after the conclusion of a calendar quarter. According to regulations, these reports must be submitted within a specific timeframe to ensure timely oversight and regulatory compliance. The correct requirement is that FOCUS II reports are due 17 days after the end of each calendar quarter. This timeframe allows regulatory bodies to assess the financial health and operational activities of broker-dealers efficiently while ensuring that firms can adequately prepare their financial information for submission. Understanding the deadline is critical for compliance officers and principals in the financial industry, as failing to file on time can lead to regulatory repercussions. The other timeframes provided, such as 10, 15, and 20 days, do not align with the established regulatory requirement for FOCUS II reports, further underscoring the importance of knowing the specific due date.