Accounts & CustomersCâu 58 / 125
To exercise discretion in a customer's account, a registered representative must first obtain:
a.Only a verbal instruction for each trade
b.Approval from the OCC
c.A margin agreement
d.Prior written authorization from the customer and firm approval of the account
Giải thích
Discretionary authority (choosing the security, the amount, or whether to buy or sell without consulting the client on each order) requires the customer's prior written authorization and the firm's written acceptance of the account. Each discretionary order must be marked as such and the account must be reviewed frequently by a principal.
Luyện miễn phí toàn bộ 125 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- In a joint tenants with rights of survivorship (JTWROS) account, when one owner dies:
- A custodial account established under the Uniform Transfers to Minors Act (UTMA) has which feature?
- Under Regulation T, the initial margin requirement for a purchase of marginable common stock is currently:
- A customer buys $20,000 of marginable stock in a margin account. Under Regulation T at 50%, how much must the customer deposit?
- FINRA's minimum maintenance margin requirement for a long stock position is:
- A customer holds long stock with a current market value of $40,000 and a debit balance of $32,000. Using the 25% maintenance requirement, what is the status of the account?
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