Canadian Securities Course (CSC) Level 1 Practice Exam

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What is the National Registration Database (NRD)?

A system used by investment dealers and employees for tax filing
A database for tracking national economic indicators
A system for filing registration forms for approval by relevant authorities
An online marketplace for securities trading

The correct answer is: A system for filing registration forms for approval by relevant authorities

The National Registration Database (NRD) is indeed a system designed for filing registration forms for individuals and firms seeking approval from regulatory authorities in the financial services industry, particularly in Canada. This electronic platform simplifies the registration process for various securities professionals. It allows for the submission, update, and maintenance of registration forms and related information, ensuring that regulatory bodies can efficiently manage and review these registrations. By centralizing this process, the NRD enhances transparency and regulatory compliance within the investment industry. Other options do not accurately represent the NRD's primary function. The NRD is specifically oriented towards registration and regulatory compliance, rather than tax filing, tracking economic indicators, or acting as a trading marketplace.