[TJ9Y8] Of the following orders listed, which would be require... | Achievable Series 65…
This is in regards to discrectionary account.
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Hi! Here’s the explanation again, with emphasis added:
A discretionary transaction is one that involves a financial professional choosing one of the following on behalf of their client:
- Action (buy or sell)
Amount (how much)
Asset (what security)
The correct answer is not clear about the specific security to be traded. Therefore, it will be considered a discretionary transaction. All of the other choices clearly establish the action, amount, and asset.
The correct choice, requiring discretion, is:
Sell all shares of OPQ Large Cap Growth Fund and use the proceeds to purchase another OPQ fund by the end of the day
The phrase “another OPQ fund” could mean a variety of securities, requiring the rep to pick the specific one.
So the “what security” has to be specific and “another OPQ fund” is not specific. Got it. Thanks.
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