Series 99: Exercise

Exercise

Match the term with its definition.

1. A. Discretionary account
2. B. Solicited transaction
3. C. Durable power of attorney
4. D. General power of attorney
5. E. Full trading authorization
6. F. Unsolicited transaction
7. G. Churning
8. H. Limited power of attorney
9. I. Limited trading authorization
10. 1. ___ When the agent is given broad authority to manage the grantor’s assets and financial affairs.
11. 2. ___ Grants only specific activities to the agent, such as the power to sell a particular property.
12. 3. ___ This remains in operation even after the incapacity of the principal.
13. 4. ___ Allows a third party to purchase and sell securities for the account owner and make inquiries concerning the account, such as obtaining account balances.
14. 5. ___ Allows a party to trade in the account and provides the added ability to withdraw and transfer account funds.
15. 6. ___ Excessive buying and selling in a customer’s account chiefly to generate