Series 3: Exercise

Exercise

Answer true or false.

1. 1. _____ The NFA may discipline a guarantor FCM for violations of NFA rules committed by its guaranteed IBs if the guarantor fails to diligently supervise them.
2. 2. _____ New account records should be kept at the office of the guaranteed IB.
3. 3. _____ The written policies and procedures should be kept on file and made available to both its own personnel and its guaranteed IB personnel.
4. 4. _____ NFA expects that on-site inspections of guaranteed I