Customer Identification Verification
The U.S. Patriot Act requires member firms to use the name, address, date of birth, and social security number or tax identification number to independently verify the identity of the customer. This verification can be done with a current driver’s license, passport, or another government-issued identification (a social security card is not acceptable). The verification must be done within a reasonable amount of time after opening the account. The member firm is also required to check if the person is on a known or suspected terrorist list provided by the Office of Foreign Assets Control (OFAC).
These rules are included to detect and deter money laundering and the funding of terrorist organizations.
Records relating to the identification verification must be kept at least five years.
Required Information for New Account
Minimum Required Information
Customer ID Verification Information
Customer Suitability Information
Name
x
x
Residential Address
x
x
Social Security or Tax ID
x
x
Date of Birth
x
x
Registered Rep Responsible for Account
x
Principal’s Signature
x
Occupation and Empl
VIDEO
Since you're reading about Series 24: Customer Identification Verification , you might also be interested in:
Please Enable Javascript
TESTIMONIALS
What are people saying?
Finally! Having used the study material provided by my firm, I couldn't get over the passing level. Came out of pocket for Solomon, and passed [the Series 24] on the first effort - Thank you!
Scott Krogmann,
Regions Bank,
Knoxville, TN
I passed my Series 24 today with an 80% thanks to Solomon Test Prep! I found the most benefit from using the practice exams as a learning tool, reading each answer explanation as I went along, regardless of a(n) correct/incorrect response. I found that for this exam, understanding the concepts is equally as important as memorization! Good luck!
Audrey M., Austin, TX
I tried studying on my own using materials from another vendor, which was super wordy and lengthy. After much frustration, I looked for new study materials and discovered Solomon. It is concise, clear and presented well. The subject area quizzes and practice exams were unlimited and very helpful. Six weeks later I passed the Series 24 with an 85! I would not hesitate to use Solomon again, should the need arise.
Yasmeen M.
I watched the videos twice, took notes from them, and took hundreds of practice problems. The test simulator was the best part of the program. I found it helpful that you could go back and look at the questions you missed and use them to help refine what to study. I definitely would recommend the program. Get 85%+ on the practice and you should pass the 24.
Kris Nyden, Seattle, WA
After trying numerous study materials, Solomon was the key to pass my Series 24. The live class was a perfect complement. Thank you Karen for your assistance!
Marie, Miami, FL
I was very apprehensive about the Series 24 exam prior to taking it. Everyone I knew who had taken it informed me that it was an incredibly difficult test, with questions that were meant to trick you. After following Solomon's six week study outline and making flashcards for my weakest areas, I was averaging in the high 80s on the Solomon practice exams. That gave me the confidence I needed to walk into the test center feeling prepared, and the knowledge I needed to walk out of the test center having scored an 88. I am now recommending the Solomon Series 24 materials to everyone at the office!
Janie Richards,
Austin, Texas
Read more reviews
