SIE Understanding Trading, Customer Accounts and Prohibited Activities Question 63: Answer and Explanation

Question: 63

What is the minimum frequency for customer account statements named in FINRA 2231?

• A. Within five business days after requested by the customer
• B. Every calendar year
• C. Every calendar quarter
• D. Every calendar month

Correct Answer: C

Explanation:

C: Choice C is correct because the rule provides guidance to provide investments in the account, trades since last report, and any liquid funds on hand. Choices A, B, and D do not represent the correct frequency for statements.