Customer AccountsCâu 90 / 110
A representative learns that an individual account holder has died. The representative should:
a.Liquidate all positions immediately to protect the estate
b.Continue accepting instructions from the customer's spouse
c.Cancel all open orders, mark the account deceased, and await required documents such as a death certificate and letters testamentary
d.Transfer the assets to the named beneficiary the same day
Giải thích
On notice of death the firm freezes the account, cancels open orders, and takes instructions only from the duly appointed representative of the estate after receiving proper documentation. Family members have no authority merely by relationship. Liquidating or transferring assets before documentation could expose the firm and the representative to liability.
Trích dẫn luật: FINRA RulesLuyện miễn phí toàn bộ 110 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A 72-year-old retiree needs to draw income from a $60,000 lump sum within the next 12 months and has no other liquid savings. Which recommendation is least suitable?
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- A customer wants to park six months of living expenses where the money is safe and available on short notice. Which fund best matches that objective?
- Which statement about the new account form for a retail cash account is correct?
- When a customer submits a transfer instruction to move an account from one broker-dealer to another through the automated transfer system, the carrying firm must:
- A firm must send the customer a copy of the account record for verification of the customer's investment profile information:
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