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Finra Series-6 Exam - Topic 4 Question 87 Discussion

You have just become a licensed registered representative with Fine, Howard, Fine and Associates, a broker-dealer. (Congratulations!) You have had a brokerage account with Anon Brokerage for the past ten years. In this instance, you are required to:
D) The actions described in both B and C are requirements.
A) transfer the assets in your account with Anon to a Fine, Howard, Fine account and close your account with Anon.
B) provide Fine, Howard, Fine with written notification of this fact.
C) provide Anon Brokerage with written notification of your association with Fine, Howard, Fine.

Finra Series-6 Exam - Topic 4 Question 87 Discussion

Actual exam question for Finra's Series-6 exam
Question #: 87
Topic #: 4
[All Series-6 Questions]

You have just become a licensed registered representative with Fine, Howard, Fine and Associates, a broker-dealer. (Congratulations!) You have had a brokerage account with Anon Brokerage for the past ten years. In this instance, you are required to:

Show Suggested Answer Hide Answer
Suggested Answer: D

If you have an account with another member firm upon becoming associated with a member firm, you are required to provide both the firm with which you have your account and your new employer in writing of the fact.


by Jenise at Sep 18, 2024, 04:50 AM

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Pansy
7 months ago
Yup, closing the old account is a must!
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Lawrence
8 months ago
Wait, both B and C are required? That seems excessive.
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Mira
8 months ago
I thought you only had to notify Fine, Howard, Fine?
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Avery
8 months ago
Definitely need to notify Anon Brokerage too.
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Odelia
8 months ago
Gotta transfer assets to Fine, Howard, Fine.
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Tayna
9 months ago
I vaguely recall that both B and C could be required, but I’m not entirely confident. It seems like a tricky situation!
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Alayna
9 months ago
I’m a bit confused about whether I need to notify Anon or just Fine, Howard, Fine. I feel like both notifications might be necessary.
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Serina
9 months ago
I think I practiced a question like this where you had to transfer assets and notify the new firm. It feels like A is definitely part of it.
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Marshall
9 months ago
I remember something about notifying both firms when you change your affiliation, but I'm not sure if it's just one or both.
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Vallie
9 months ago
This seems pretty straightforward to me. The answer is clearly D - I need to provide written notification to both Anon Brokerage and Fine, Howard, Fine about the change. I'm confident that's the right approach.
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Lynette
9 months ago
Okay, let me break this down step-by-step. As a licensed representative, I need to transfer my assets to the new firm and close the old account. But I also need to provide written notification to someone - not sure if it's just the new firm or both. I'll review the options closely.
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Laurel
9 months ago
I'm a little unsure about this one. Do I need to notify both Anon Brokerage and Fine, Howard, Fine about the change? Or is it just one or the other? I'll have to think this through carefully.
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Fatima
9 months ago
Hmm, this seems straightforward. I think the correct answer is A - I need to transfer the assets from my Anon Brokerage account to my new Fine, Howard, Fine account and close the Anon account.
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Nakita
9 months ago
Hmm, I'm a little torn on this one. I think the key is figuring out if I need to notify one firm or both. I'll re-read the question carefully and try to eliminate the options that don't seem quite right.
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Catrice
2 years ago
I agree with Myra, it's important to follow all the requirements to ensure compliance.
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Carmelina
2 years ago
Haha, I can just imagine the paperwork pile up. D seems like the way to go, though. Gotta dot those i's and cross those t's.
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Mirta
2 years ago
Cassie: Better safe than sorry, right?
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Henriette
2 years ago
Agreed, option D seems like the safest choice.
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Cassie
2 years ago
Definitely, but it's important to follow all the requirements.
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Gail
2 years ago
Yeah, the paperwork can be overwhelming.
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Myra
2 years ago
I believe providing written notification to both Fine, Howard, Fine and Anon is necessary.
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Shelton
2 years ago
I think I should transfer the assets to Fine, Howard, Fine and close my account with Anon.
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Sherly
2 years ago
Definitely D. We have to cover all our bases and let both parties know about the change. Gotta play by the rules, you know?
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Benton
2 years ago
I think option D is the correct answer. We need to notify both the new firm and the old firm of the change in our affiliation.
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Luisa
2 years ago
Yes, it's important to follow the proper procedures when switching broker-dealers.
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Vallie
2 years ago
I agree, we need to make sure both firms are aware of the change.
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