General Securities Sales Supervisor (Series 10) Practice Exam 2025 - Free Series 10 Practice Questions and Study Guide

A control relationship under MSRB Rule G-22 is established when an officer of a municipal dealer is also an official, such as the Treasurer, of a municipality whose bonds are being recommended for investment. This situation creates a potential conflict of interest, as the dealer's officer has direct involvement in both the recommendation of the securities and the authority over the municipality's financial decisions. Such a relationship requires that the dealer disclose this connection to ensure transparency and compliance with ethical standards.

In contrast, the other options do not demonstrate a control relationship defined by MSRB rules. The location of the municipal dealer within the municipality does not imply influence or control over the bond issuance. Winning every competitive bid may indicate success in bidding strategy, but does not create a control relationship with the municipality. Similarly, consistently making a market in municipal securities shows a trading practice rather than an established control relationship with the issuer of the bonds.