SIE Exam Practice Question 620

Question: 620

According to FINRA Rule 3240, which of the following is correct regarding borrowing and lending arrangements between a Registered Investment Advisor and its customers?

A. The specific borrowing/lending arrangement must meet certain conditions, such as the customer cannot be an immediate family member.

B. Proper notification of the borrowing or lending arrangement must be given, but advanced approval is not required.

C. The member firm must have a written policy in place regarding borrowing and lending arrangements.

D. All of the above are correct.

SIE Exam Practice Question 620

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