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FINRA Series 7

Category - Series 7

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When a member firm buys or sells securities directly as principal with a public customer, it is acting as:

a dealer
a broker
an agent
none of the above

Explanation

Answer: A - a dealer. When a firm does business directly with a customer, it is acting as a dealer. When it represents a customer, it is acting as a broker.

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FINRA Series 7

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FINRA Series 7

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