State Regulations Governing Broker Dealers And Agents Flashcards
1
Q
Broker dealers are required to keep a copy of all orders, except:
A
Orders to subscribe to a rights offering
2
Q
True or false: all email must be reviewed and approved by the broker-dealer
A
True
3
Q
True or false: all email must be reviewed and approved by the principal.
A
False
4
Q
T or F: A non-registered agent of a broker-dealer can sell CDs
A
True
5
Q
T or F: A non-registered agent of a broker-dealer can sell Fixed Annuities.
A
False
6
Q
True or false: A surety bond is not required if the broker-dealer does not take custody of client funds or securities.
A
False. To register as a broker-dealer, surety bond must be posted typically $10,000.
7
Q
True or false: A surety bond is not required if the broker-dealer has more capital than the surety bond amount.
A
True
