Record Keeping- 3 or 6 years?


I have been using a few other sources to compliment my exam preparation/ exposure with achievable (which has been really helpful). On other sources however, I keep seeing record keeping 6 years for statements…yet on achievable it reads as 3 years. I’d love an outside perspective.

Kaplan Q:
Which of the following records must be kept for six years?
i. Customer statements
ii. customers new accounts
iii. customer confirmations
iv. customer order tickets

answer: i and ii

Thank youuu in advance :wave:

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Good question! I’m going to link you to this forum post from last year. We get this question fairly often, and it seems there are conflicting interpretations. Some of our competitors agree with our interpretation, while others (like Kaplan) go the other way. The linked post above explains our thought process.

Bottom line - we believe statements require a 3 year record retention period, regardless of what other programs may say.


Thank you- you are wonderful at explaining things/ breaking things down. I am saving up for an hour session with you before I take my series 7!

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Feel free to DM me on this forum and I’ll offer as much free help as possible. Cheers!