
educationAug 5, 20262:55pending
Series 7 Exam Prep 59, Settlement, Ex-Dividend, and Due Bills
About this episode
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
In this episode you will learn:
- Regular-way settlement for most securities is now T+1 (trade date plus one business day).
- The ex-dividend date is now the same as the record date, and you must purchase a stock *before* the ex-date to receive the dividend.
- The DERP mnemonic helps recall the dividend timeline: Declaration, Ex-dividend, Record, and Payable.
- An investor purchasing a stock via cash settlement on the record date is entitled to the dividend, a common exam exception.
- A due bill is an instrument used to ensure a buyer receives a dividend they are entitled to if a trade settles late.
For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Get every episode summarized
Each time Open Exam Prep publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from Open Exam Prep

Series 7 Exam Prep 99, High-Yield Product Comparison Review
Open Exam Prep
Sep 14, 20263:33completed

Series 7 Exam Prep 98, Regulation and Prohibited Conduct Review
Open Exam Prep
Sep 13, 20264:35completed

Series 7 Exam Prep 97, Trading and Settlement Exam Traps
Open Exam Prep
Sep 12, 20264:02completed

Series 7 Exam Prep 96, Communications and Disclosure Exam Traps
Open Exam Prep
Sep 11, 20263:30completed