Series 57 Practice Test 12

10 free Series 57 practice questions in the real exam format, covering the official content areas, with an explanation for every answer.

Series 57 Practice Test 12Tutor mode

Question 1 of 10

Trading Activities

On Friday, November 20, 2026, a customer sells shares long, but the participant has a fail to deliver at the registered clearing agency on settlement date. Thursday, November 26 is a market holiday. Under Rule 204, by the beginning of regular trading on which date must the fail be closed out?