Business PracticesPregunta 73 de 100
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:
a.Acted prudently in the customer's best interest
b.Committed a prohibited practice by failing to follow the customer's instructions and effectively exercising unauthorized discretion
c.Acted properly because a partial sale is less risky
d.Acted properly if the stock later recovers
Explicación
Failing to execute a customer's order as instructed is an unethical practice, and substituting the agent's own judgment for the customer's amounts to unauthorized discretion. The agent may voice a contrary opinion but must ultimately follow the instruction or decline the account. A favorable market outcome does not retroactively excuse the deviation.
Referencia Legal: NASAA Model RulePractica las 100 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- 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 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:
- 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:
- A client intends to invest $48,000 in a mutual fund whose sales charge drops at a $50,000 breakpoint. The agent processes the order at $48,000 without mentioning the breakpoint. This is:
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con NASAA Series 63 — Uniform Securities Agent State Law Exam · Cómo revisamos