Series 7 Exam Question 178: Answer and Explanation

Question: 178

All of the following items must be included on a trade confirmation EXCEPT

  • A. the customer's account number
  • B. the customer's signature
  • C. the price of the security
  • D. the commission, if the trade took place on an agency basis

Correct Answer: B


B. The customer's signature is not required on a trade confirmation. However, the customer's account number, the registered rep's ID number, the trade date, whether the customer bought or sold, the number of shares or par value of bonds, the yield (if bonds), the CUSIP number, the price of the security, the total amount paid, the commission (if on an agency basis), and the net amount are all required on the confirmation.

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