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Which of the following does not describe a prohibited practice for broker-dealers under the NASAA...

Which of the following does not describe a prohibited practice for broker-dealers under the NASAA Model Rules?

I. SecureMoney Broker-Dealers has received a request from a client who wants SecureMoney to “identify a few solid firms in the Asian market and invest up to $20,000 in them.” SecureMoney executes the purchases and receives the requisite signed discretionary authorization from the client before the settlement date.

II. CanDo Broker-Dealers executes a margin transaction for a client, promptly receiving a signed, written margin agreement from the client after the transaction takes place.

III. GetErDone Broker-Dealers receives a call from a client who wants to purchase some securities on margin. GetErDone has the client come into the office to sign a properly executed margin agreement prior to effecting the transaction.

A.

None of the selections are prohibited practices.

B.

I and III only

C.

II and III only

D.

III only

FINRA Series-63 Summary

  • Vendor: FINRA
  • Product: Series-63
  • Update on: Jul 25, 2025
  • Questions: 251
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