Series 65: Exercise

Taken from our Series 65 Online Guide

Exercise

Answer True or False.

1. True or false. It is not possible for churning to occur in a discretionary account.

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

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

4. True or false. An investment adviser would be allowed to enter into a performance-based arrangement if the client had a net worth of $2.5 million and a primary residence valued at $600,000.

5. True or false. 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.

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