Series 10 Exam Question 25: Answer and Explanation

Question: 25

An agent has just been informed of the death of a client. All of the following must be done by the agent, EXCEPT:

• A. Cancel all open orders.
• B. Mark the account deceased.
• C. Inform the IRS and request inheritance tax waivers.
• D. Await instructions from the executor.

Correct Answer: C

Explanation:

It is not the responsibility of the agent to inform the IRS.