If a customer fails to pay for securities purchased in a cash account, the member...

Vendor: FINRA
Product: Series-7
Update on: Jul 25, 2025
Questions: 400

FINRA Series-7 Question Answer

If a customer fails to pay for securities purchased in a cash account, the member firm broker will do which of the following?

grant an extension for a bona fide reason

place the securities temporarily in a general account

purchase the securities for the firm’s error account

liquidate the securities or otherwise cancel the transaction

FINRA Series-7 Summary

Price: $52.5 ~~$149.99~~