Series 7 Exam Question 244: Answer and Explanation

Question: 244

Which of the following needs to be filled out on a new account form?

I. The customer's name and address

II. The customer's date of birth

III. The type of account

IV. The customer's investment objectives

  • A. I and II
  • B. I, II, and III
  • C. I, II, and IV
  • D. I, II, III, and IV

Correct Answer: D


D. Actually, all the information listed needs to be on the new account form. In addition, you also need the Social Security number (or tax ID if a business), the occupation and type of business, bank references, net worth, annual income, if the customer is an insider of a company, and the signature of the registered rep and a principal.

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