Unit 3 - Test Prep Flashcards
1
Q
All of the below may be used to verify a customer’s identity
A
- a valid passport
- an unexpired DL
- a military ID
birth cert is not a valid ID
2
Q
All of the below may be found on a customer confirmation
A
- preference order payment flow
- control relationship
- disclosure of crossing stock between 2 customers and charging a commission to each side
3
Q
Customer statements are sent
A
quarterly if there are no activity in the account
4
Q
Each of the below regarding POA are true
A
- a DPOA survives an incapacitation
- a LPOA allows a 3rd party to trade
- a LPOA ceases at death
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