Finra Exam Series-7 Topic 5 Question 35 Discussion

Actual exam question for Finra's Series-7 exam

Question #: 35
Topic #: 5

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

Amay not trade corporate securities under any circumstances

Bmay make purchases but not sales of corporate securities

Cmust deposit the full purchase cost before an order is executed

Dmust deposit sufficient cash for each transaction no later than the settlement date

Show Suggested Answer

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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