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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
7 months ago
I agree, they must have cash ready for each transaction!
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Charlena
7 months ago
Wait, are you sure about that? Sounds a bit off.
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Elouise
7 months ago
Definitely need to deposit full costs before executing orders!
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Brock
7 months ago
I think they can still make purchases, just not sales.
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Marshall
8 months ago
A frozen account can't trade corporate securities at all.
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Dean
8 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
8 months ago
I remember something about frozen accounts needing full payment before trades, which makes me lean towards C.
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Laura
8 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
8 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
8 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
8 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
8 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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