Under regulation t, an extension request that is granted by finra typically gives a customer how many additional business days to pay for a securities purchase?

a. 3 days
b. 7 days
c. 10 days
d. 90 days

The best answer is 3 day which is A

Explanation:

Let us define what a FINRA is: This abbreviation typicaaly stands for Financial Industry Regulatory Agency in th e united states.

FINRA represents a private establishment that works in the capacity of a  self-regulatory organization. They are in the business of maintaining sanity, integrity and responsiveness in the financial industry.

The Regulation T provide for the possibility of extensions of credit by broker-dealers to investors when they have not promptly paid for a securities transaction.  

Specifically, Regulation T gives an investor a maximum of 4 business days to pay for securities purchased in a cash or margin account. If payment due exceeds $1,000 and is not received by the end of this time period, the broker-dealer must either liquidate the position or apply for and receive an extension from its designated examining authority, such as FINRA.

 SEC Rule 15c3-3 pertains to a customer's obligations when securities are sold, other than short sales.The rule requires that if a security sold long has not been delivered within 10 business days after the settlement date, the broker-dealer must either buy the customer in, or apply for and receive an extension from its designated examining authority.

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