Series 7: 3.6.31 Rule G-31—Reciprocal Dealings Prohibited

Taken from our Series 7 Top-off Online Guide

3.6.31 Rule G-31—Reciprocal Dealings Prohibited

Also known as the anti-reciprocal rule, this rule states that broker-dealers may not solicit business with an investment company in return for steering their customers’ sales into shares or units of the investment company.

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Brandon Collins, Benchmark. Memphis, TN

Thank you...thank you. I took my Series 7 yesterday and passed....1st try. Read the whole book 3 times. My system was to go through and answer the questions I was positive about. Good guess at the others and park them for review. The hardest part is trying to understand what they are actually asking. This way I wasn’t bogged down and stressed being stuck on a question. Second time around go through all those parked questions...digging deeper...checking my calculations etc. again parking the ones that totally stumped me. Third time around....educated guesses and what seemed to make sense. Also, on my way there, I was picturing myself in the room....sitting at the computer (yes, I took a dry run to see the inside). It took that part of the unknown out of the equation. Be prepared for the masks and Covid precautions. Any options questions, as tricky as they make them, I would look at my charts and was able to make sense of what they were asking. Finished the test in record time. Being prepared gave me the confidence to get through it. Many thanks Lorraine

Lorraine Harrod, PNC, Lewes, DE

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Shawn Sullivan Charlestowne Securities Darien, CT

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