Series 7 Exam Question 312: Answer and Explanation

Question: 312

A principal is responsible for approving new accounts opened for

I. individuals

II. corporations

III. banks

IV. trusts

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

Correct Answer: D


D. I hope this was an easy one for you. Principals must approve all new accounts and must sign all new account forms.

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