Practice Quiz

FINRA Series 6

Category - Series 6

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Mr. and Mrs. R. Retired are planning on traveling extensively throughout the U.S. in their new motor home now that they have reached their golden years. Under FINRA rules, upon written instructions from Mr. and Mrs. R. Retired, their broker is required to hold their mail for a maximum of:
  1. 1 month.
  2. 2 months.
  3. 3 months.
  4. none of the above. It is Mr. and Mrs. Retired’s responsibility to establish a mail-hold through the post office.
Explanation
Answer: B - If Mr. and Mrs. Retired provide their broker with written instructions, their broker is required to hold their mail for a maximum of 2 months under FINRA’s rule regarding the keeping of books and records. If Mr. and Mrs. Retired were going abroad instead of traveling
only in the U.S., FINRA’s rule requires that their mail be held by the broker for a maximum of 3 months.
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