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FINRA Series 7

Category - Series 7

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The FINRA Conduct Rules permit a transaction made “seller’s option” to be delivered earlier than the expiration of the contract if:

the buyer is given one day notice in writing
the seller is located in New York City
the client requests it
the buyer is a non-clearing member

Explanation

Answer: A - the buyer is given one day notice in writing. A contract made on a “seller’s option” may be terminated by the seller at an earlier date, provided that he gives the buyer one day notice.

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FINRA Series 7

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FINRA Series 7

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