Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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A broker-dealer will be found guilty of churning an account if the account has a turnover ratio of
  1. four.
  2. five.
  3. eight.
  4. There is no specified turnover ratio assigned to the prohibited practice of churning.
Explanation
Answer: D - There is no specified turnover ratio assigned to the prohibited practice of churning since some investors are simply more frequent traders than others.
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