Finra Series-6 Exam - Topic 1 Question 43 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 43
Topic #: 1

Joan is a customer of GetErDone Broker-Dealers. Her twin sister, Jean, has accompanied her to GetErDone's office and has gathered some information regarding opening an account with the firm, giving it her contact information at the same time.

Under Regulation S-P, which of the following statements regarding GetErDone's handling of Joan's and Jean's personal information is true?

AGetErDone must provide Joan with a notification of its privacy policies annually and provide her with information on how to mandate that it not share her nonpublic personal information with nonaffiliated third parties.

BGetErDone can disclose any information that Jean provided them to nonaffiliated third parties since Jean is not a customer of the broker-dealer.

CGetErDone is required to have provided Jean with a copy of its privacy policy when she inquired about opening an account with the broker-dealer.

DAll of the above are true statements.

Show Suggested Answer

Suggested Answer: A

Since Joan is a customer of GetErDone, GetErDone must provide her with a notification of its privacy policies annually and provide her with information on how to mandate that it not share her nonpublic personal information with nonaffiliated third parties. GetErDone may not disclose any information about Jean, who is not yet a customer of the firm, unless the broker -dealer has provided Jean with its privacy policy and given her the opportunity to opt out of its ability to share her information with nonaffiliated third parties. GetErDone is not required to have provided Jean with a copy of its privacy policy when she inquired about opening an account, but it will need to provide her with one when/if she becomes a customer.

by Virgina at Jun 16, 2022, 10:33 PM

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Tesha

4 months ago

D is a stretch, not all of them can be true.

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Rolland

4 months ago

C sounds right, Jean should get the policy too.

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Ashlee

4 months ago

Wait, can they really share Jean's info like that?

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Juliana

4 months ago

I disagree, B is misleading.

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Katina

4 months ago

A is definitely true, they have to notify Joan.

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Holley

5 months ago

I’m leaning towards A being the correct answer, but I’m not entirely confident about the specifics regarding Jean's situation.

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Diego

5 months ago

I feel like GetErDone has to provide privacy policies to anyone who inquires, but I can't remember if that includes non-customers like Jean.

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Jaime

5 months ago

I think Jean's information might be protected too, but I recall a practice question where only the customer’s info was relevant.

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Micaela

5 months ago

I remember something about Regulation S-P requiring annual privacy policy notifications, but I'm not sure if it applies to both Joan and Jean.

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Lili

5 months ago

Hmm, I'm a bit unsure about this one. I need to make sure I understand the relationship between ITSCM and BCM before I answer.

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Omer

5 months ago

I think the answer is C. That seems like the most comprehensive approach to deploying a Dockerfile on Kubernetes Engine.

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An

5 months ago

Option B sounds like it could be right, focusing on aligning information needs with development. But A also seems plausible, covering the overall planning and management of IS. I'll have to weigh the nuances of each choice.

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