Practice Quiz

FINRA Series 7

Category - Series 7

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The FINRA markup policy requires that over-the-counter transactions with a customer be at:
  1. prices reasonably related to the current market price of the security
  2. a markup not to exceed 5% of the current offering price
  3. prices reasonably related to the dealer’s cost
  4. a markup based on previous activity in the customer’s account
Explanation
Answer: A - prices reasonably related to the current market price of the security. All markups must be based upon the current market rather than the dealer’s cost.
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