Series 63: Exercise

Taken from our Series 63 Online Guide

Exercise

Answer true or false

1. _____ It is not possible for churning to occur in a discretionary account.

2. _____ Agents generally cannot borrow money from or loan money to customers.

3. _____ For a margin account with a broker-dealer, a written agreement must be in place before any trades are made.

4. _____ An investment adviser would be allowed to enter into a performance-based arrangement with a client with $1.75 million in net worth and a private residence valued at $600,000.

5. _____ An investment adviser representative can only reveal confidential client information with the client’s consent.

Answers

1. False. Churning, or excessive trading, can occur in both discretionary and non-discretionary accounts.

2. True. Althoug

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