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FINRA Series 7

Category - Series 7

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Under Regulation T of the Federal Reserve, when may a broker overlook an amount due in a customer’s account?

if it does not exceed $1,000
if the client makes a request in writing
if the value of a trade is less than $1,000
under no circumstances

Explanation

Answer: A - if it does not exceed $1,000. If the net amount due is less than $1,000 no action is required under Reg T.

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