SIE Exam Question 759: Answer and Explanation

Question: 759

Firms must retain trade blotters containing all purchases and sales of securities for at least __________ years, and they must keep copies of confirmations for __________ years. For the first __________ years, these records must be kept in an easily accessible location.

• A. 3, 2, 2
• B. 4, 3, 2
• C. 5, 4, 3
• D. 6, 3, 2

Correct Answer: D

Explanation:

Firms must retain trade blotters containing all purchases and sales of securities for at least 6 years, and they must keep copies of confirmations for 3 years. For the first 2 years, these records must be kept in an easily accessible location.