Series 63: Exercise

Exercise

Answer TRUE or FALSE

1. Keeping a client’s electronic data out of public view is a primary responsibility for all investment professionals.

2. Under the SEC’s cybersecurity regulations, firms must periodically review databases used to store client information.

3. FINRA guidelines require only a firm’s management to have defined roles and responsibilities as part of a cybersecurity plan.

4. As long as reasonable policies and procedures to identify the red flags of identity theft are in place, a firm has satisfied its SEC requirement to maintain an identity theft program.

Answers

1. True. Client confidentiality extends to data stored electronically and online. Therefore, all investment professionals are responsible fo