Unit 3 - Test Prep Flashcards

1
Q

All of the below may be used to verify a customer’s identity

A
  1. a valid passport
  2. an unexpired DL
  3. a military ID

birth cert is not a valid ID

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2
Q

All of the below may be found on a customer confirmation

A
  1. preference order payment flow
  2. control relationship
  3. disclosure of crossing stock between 2 customers and charging a commission to each side
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3
Q

Customer statements are sent

A

quarterly if there are no activity in the account

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4
Q

Each of the below regarding POA are true

A
  1. a DPOA survives an incapacitation
  2. a LPOA allows a 3rd party to trade
  3. a LPOA ceases at death
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5
Q

Which of the following statements is true regarding institutional communications?

A

Institutional communications do not require prior principal approval if the APs are trained in firm procedures

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