SIE Exam Question 388: Answer and Explanation

Question: 388

A customer of a brokerage firm must receive a customer account statement with which of the following frequencies?

I. Monthly

II. Weekly if there has been any activity in the account

III. A minimum of at least quarterly

IV. Monthly if there has been any activity in the account

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

Correct Answer: D

Explanation:

D: Monthly or quarterly, depending on whether there has been any securities activity in the account.