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FINRA Series 7

Category - Series 7

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In which of the following situations may exemption from compliance with Regulation T be granted?

a broker/dealer who does not offer margin accounts
a broker/dealer conducts business only in registered securities
a broker/dealer transacting less than 10% of its business through a member of a securities exchange
none of the above

Explanation

Answer: D - none of the above. No broker/dealer is exempt. Reg T covers cash accounts as well as margin accounts.

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FINRA Series 7

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