The explanation for the answer states the margin agreement must be signed and submitted promptly after the first margin trade.
Then at the bottom under unethical practices by agents it states executing margin trade with out the margin agreement.
I’m confused by these two statements. If the customer can execute their first trade without signing the margin agreement. Then how is the agent supposed to abide the law?
Hi, it’s the same point! There’s just a little bit of operational leeway in allowing the customer to sign the margin agreement right after that first trade.
I missed this one also because I thought ANY felony conviction within 10 years regardless of securities violation would be denied. It literally states that in the explanation. I feel like I’m getting more confused by some of this material based on the answer choices.
I’m forced to use a different vendor at my firm, pass perfect scoring high 80’s on every final exam and they aren’t easy. I’m scoring terrible on achievable. Not sure how that’s even possible but I’ll keep working on achievable during my off time as well.
Make sure to read carefully! There are two felony-related choices:
A theft-related felony conviction 27 years ago
This conviction occurred 27 years ago, outside of the 10-year limit
An assault-related felony charge 9 years ago
This one is a charge, not a conviction.
It’s common to score a bit lower if you switch materials since everyone has a different writing style, and you unconsciously get accustomed to whatever you’re using. Make sure to go slowly and thoughtfully through every question and choice!
