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Under Regulation T of the Federal Reserve, when may a broker overlook an amount due in a customer's account?
Suggested Answer: A
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if it does not exceed $1,000. If the net amount due is less than $1,000 no action is required under Reg T.
12 comments · newest first
BO
Bo
1 year ago
No way they can overlook it under any circumstances!
RE
Rebeca
1 year ago
I thought they could overlook more under certain conditions.
DA
Darci
1 year ago
Wait, is it really just $1,000? Seems low.
EM
Emily
1 year ago
Totally agree, it's a strict limit.
MA
Marget
1 year ago
It's $1,000 max for overlooking amounts!
HE
Herminia
1 year ago
I’m leaning towards saying they can’t overlook it at all, but I could be mixing it up with another regulation.
LA
Lavonne
1 year ago
I practiced a question similar to this, and I think it was about the broker's discretion with amounts under $1,000.
DE
Desiree
1 year ago
I’m not entirely sure, but I feel like it has to do with the amount due and whether it’s a specific request from the client.
MA
Man
1 year ago
I think I remember something about brokers being able to overlook small amounts, maybe around $1,000?
YU
Yuki
1 year ago
Hmm, I'm not sure about this one. Sales tax can get pretty complex, so I'm not sure a formula field would be robust enough. Maybe an app from the AppExchange would be a better solution.
BO
Bobbye
1 year ago
I'm a little confused by this question. Is it asking about the factors that determine the relevance of a cost, or the factors that determine the actual cost itself? I'll need to re-read the question carefully.
JA
Jade
1 year ago
I remember a similar question in practice where they mentioned minimum and maximum limits. I think if the minimum is 6, it can't go below that, so maybe 6 are left?