Laws & Regulations第 16 / 100 题
An agent 'churns' a client's account. This unethical practice is best defined as:
a.Recommending long-term buy-and-hold securities
b.Excessive trading designed to generate commissions rather than to benefit the client
c.Rebalancing a portfolio once per year
d.Diversifying across asset classes
解析
Churning is excessive trading in a customer's account driven by the agent's desire for commissions rather than the client's interests. It is a prohibited practice regardless of whether individual trades are suitable. Frequency and cost relative to the client's objectives are key indicators.
法律依据: Uniform Securities Act免费刷完整 100 道题库 — 无需注册。
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