Practice Quiz

FINRA Series 7

Category - Series 7

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A registered representative is given a limited trading authorization by a client. This permits the representative to:
  1. withdraw money from the account
  2. enter orders for the account at the representative’s discretion
  3. withdraw securities from the account
  4. all of the above
Explanation
Answer: B - enter orders for the account at the representative’s discretion. A limited trading authorization only allows for entering of orders. A full trading authorization would also permit withdrawals from the account.
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