Finra Exam Series-6 Topic 4 Question 87 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 87
Topic #: 4

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:

Atransfer the assets in your account with Anon to a Fine, Howard, Fine account and close your account with Anon.

Bprovide Fine, Howard, Fine with written notification of this fact.

Cprovide Anon Brokerage with written notification of your association with Fine, Howard, Fine.

DThe actions described in both B and C are requirements.

Show Suggested 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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Catrice

10 months ago

I agree with Myra, it's important to follow all the requirements to ensure compliance.

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10 months 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

10 months ago

Yes, it's important to follow the proper procedures when switching broker-dealers.

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Vallie

10 months ago

I agree, we need to make sure both firms are aware of the change.

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