Customer AccountsCâu 91 / 110
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.Validate or take exception to the instruction within one business day and complete the transfer within three business days of validation
b.Complete the transfer within 30 calendar days
c.Obtain approval from FINRA before releasing the assets
d.Liquidate all positions and transfer cash only
Giải thích
The automated customer account transfer process runs on a tight schedule: validation within one business day, then completion within three business days. Assets transfer in kind whenever the receiving firm can hold them, so wholesale liquidation is incorrect. FINRA sets the timeframes but does not approve individual transfers.
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?
- A 28-year-old contributing monthly to an IRA states that the goal is maximum long-term growth and that no withdrawals are planned for 30 years. The most appropriate recommendation is:
- 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?
- A representative learns that an individual account holder has died. The representative should:
- 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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