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Finra Series-7 Exam - Topic 5 Question 35 Discussion

Which of the following is true about a customer with a frozen account?
C) must deposit the full purchase cost before an order is executed
A) may not trade corporate securities under any circumstances
B) may make purchases but not sales of corporate securities
D) must deposit sufficient cash for each transaction no later than the settlement date

Finra Series-7 Exam - Topic 5 Question 35 Discussion

Actual exam question for Finra's Series-7 exam
Question #: 35
Topic #: 5
[All Series-7 Questions]

Which of the following is true about a customer with a frozen account?

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Suggested Answer: C

must deposit the full purchase cost before an order is executed. A ''frozen'' account is restricted to full cash payment in advance for any purchase.


by Belen at May 07, 2022, 10:08 AM

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Reynalda
10 months ago
I agree, they must have cash ready for each transaction!
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Charlena
10 months ago
Wait, are you sure about that? Sounds a bit off.
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Elouise
11 months ago
Definitely need to deposit full costs before executing orders!
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Brock
11 months ago
I think they can still make purchases, just not sales.
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Marshall
11 months ago
A frozen account can't trade corporate securities at all.
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Dean
11 months ago
I'm confused about this one. I thought frozen accounts could still make some trades, but now I'm not sure if that's true or not.
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Audra
11 months ago
I remember something about frozen accounts needing full payment before trades, which makes me lean towards C.
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Laura
11 months ago
I think a frozen account means the customer can't trade at all, so maybe A is correct? But I'm not entirely sure.
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Frederic
11 months ago
I feel like I saw a question similar to this in practice, and it was about needing to have cash available for transactions, so D might be the answer.
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Sabra
11 months ago
Hmm, this looks like a tricky one. I'll need to think through the different options carefully to make sure I get the right solution.
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Roxane
11 months ago
I think telephone alerts might be a stretch for this tool. It seems more focused on digital notifications like email or text.
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Selene
11 months ago
Training all staff in sustainability sounds good, but I recall similar questions saying it might be hard to implement effectively across the board.
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