FINRA Securities Industry Essentials Exam (SIE) SIE Question # 10 Topic 2 Discussion
SIE Exam Topic 2 Question 10 Discussion:
Question #: 10
Topic #: 2
A registered representative wants to open an account for himself at a different financial institution. Under FINRA rules, which of the following accounts requires prior written consent from his employing broker-dealer?
A.
A 529 savings plan account established for his grandchild
B.
Mutual fund accounts held directly with the fund company
C.
Variable contracts registered under the Investment Company Act
D.
An investment advisory account in which securities transactions are effected
FINRA Rule 3210: Requires registered representatives to obtain written consent from their employing broker-dealer before opening accounts at other financial institutions if securities transactions will occur.
Incorrect Options:
A, B, and C: These accounts are exempt because they do not involve direct securities transactions requiring monitoring.
References:
FINRA Rule 3210 (Accounts at Other Institutions): FINRA Rule 3210.
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