FINRA Series 7 General Securities Representative Qualification Examination (GS) Series-7 Question # 38 Topic 4 Discussion
Series-7 Exam Topic 4 Question 38 Discussion:
Question #: 38
Topic #: 4
Which of the following is not true about brokerage accounts?
A.
in a community property state, a married woman must open a brokerage account with her husband
B.
stock purchased in a custodian account may not be purchased on margin or held in bearer form
C.
numbered accounts are permissible provided there is a record kept on file at the brokerage firm attesting to the actual ownership
D.
if a fiduciary intends to buy stocks in a margin account the trust agreement authorizing the margin transactions must be kept on file at the brokerage firm
in a community property state a married woman must open a brokerage account with her husband. All of the other choices are true. Only choice A is “not” true.
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit