Business PracticesPregunta 72 de 100
A customer receives a margin call and cannot meet it. The agent offers to lend the customer the money personally so the position need not be sold. This is:
a.Permitted because it protects the customer from a forced sale
b.Permitted with oral disclosure to the branch manager
c.Prohibited, because lending money to a customer creates a conflict of interest and is an unethical practice outside narrow exceptions
d.Permitted if the customer signs a promissory note
Explicación
Lending money or securities to a customer, like borrowing from one, is prohibited except in narrow circumstances such as a lending relationship through the firm or an immediate family member, and only where the firm's written procedures permit it. Good intentions do not create an exception. Documentation such as a promissory note or an oral notification to a manager does not make the loan permissible.
Referencia Legal: NASAA Model RulePractica las 100 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- A broker-dealer decides to raise its account maintenance and transfer fees substantially. Under NASAA rules, the firm:
- A broker-dealer publishes a market letter recommending a stock in which it holds a substantial proprietary position and for which it makes a market. The letter must:
- Regarding advertising and sales literature used to offer securities in a state, the Administrator:
- A customer instructs her agent to sell her entire position in a stock. The agent, believing the stock will rebound, sells only half. The agent has:
- An agent realizes a new account form is missing a signature, so he signs the customer's name himself, reasoning that the customer had already agreed by telephone. This conduct is:
- An agent urges a client to buy a mutual fund now because 'the fund pays a big distribution next week and you'll pick up extra income.' This sales tactic is:
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con NASAA Series 63 — Uniform Securities Agent State Law Exam · Cómo revisamos