| Question Answer | Which of the following signatures must appear on the New Account Form? Registered Representative, Manager or Principal , customer DOES NOT need to sign | When must Customers must be given information about SIPC: at, or prior to, account opening |
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Which of the following signatures must appear on the new account form?
| Question Answer | Which of the following signatures must appear on the New Account Form? Registered Representative, Manager or Principal , customer DOES NOT need to sign | When must Customers must be given information about SIPC: at, or prior to, account opening |
|---|
Which of the following information is required on an individual new account form?
There are 4 critical pieces of information that must be collected to open a new account for an individual customer – Name, Address, __, and
Social Security number
. … To verify the identity of a corporation that wishes to open an account, government issued identification is required to perform the match.
When a customer opens a new cash account the new account report form must be signed by?
If a customer wishes to open a cash account, who must sign the new account form?
The customer’s signature nor the registered representatives signature
is required to open a cash account. A principal must review and then accept the new account by signing the form.
What is required on a new account form?
Here’s a list of the items that need to be on the new account form: The name(s) and address(es) of the individual(s) who’ll have access to the account. …
The customer’s Social Security number
(if the customer is an individual) or tax ID number (if the customer is a business)
Which statements are true if a customer’s account is frozen?
When an account is frozen, this means that
the customer did not pay within the maximum time period specified under Regulation T
. When an account is frozen, to buy securities, payment must be made in advance; and to sell securities, delivery of the security must be made in advance. The freeze lasts for 90 days.
When opening a new account a registered representative is required to obtain Which of the following information?
To open an account for a new customer, 4 critical pieces of information must be obtained before the account can be opened –
customer name, mailing address, social security number, and birthdate
. This information must be used to independently verify the customer’s identity within a reasonable time after account opening.
What is the difference between a margin account and a cash account?
What’s the difference between a cash account and a margin account? A cash account lets you buy securities such as
stocks and bonds using only the amount of money you have
, while a margin account lets you borrow money from your brokerage to buy more securities than you could with cash alone.
When opening an account for a customer which of the following is necessary?
There are 4 critical pieces of information that must be collected to open a new account for an individual customer – Name, Address, Birthdate, and
Social Security number
.
What type of account can be opened as a margin account?
A margin account is
a brokerage account
in which the broker lends the customer cash to purchase stocks or other financial products. The loan in the account is collateralized by the securities purchased and cash, and comes with a periodic interest rate.
Which of the following are acceptable methods for opening an investment adviser account?
What is an acceptable method for opening an investment adviser account?
Only Second Parties can open accounts
. A Second Party can give trading authorization to either the First Party (a discretionary account) or to the Third Party (a Third Party trading authorization).
Which of the following parties of an account can give trading authorization to another party? Since only Second Parties can open accounts, only a Second Party can give trading authorization to either a
First Party
(a discretionary account) or to a Third Party (a Third Party trading authorization).
Why should no one use brokerage accounts?
Investors in brokerage accounts that
fail due to fraud can be forced to pay back to a SIPC-
appointed trustee huge sums, indeed far more than what they contributed to their accounts. Wall Street pays SIPC’s bills. … Thus, Wall Street uses SIPC to further defraud people it’s already defrauded.
What documents need to open bank account?
- PAN card.
- Passport.
- Driving License.
- Voter’s ID.
- Employee ID.
- Bank passbook.
- Ration card.
Can you open a bank account without going to the bank?
There’s no need to visit a branch to open a bank account anymore
. You can open a bank account, deposit money and set up automatic payments all from the comfort of your home. Once you’ve applied, just wait for the card to be sent to you in the mail, activate the account and you’re good to go.
What is the minimum age to open a bank account?
1) Age Of The Child
As the RBI has allowed banks to let children above the age of
10 years
open and operate bank accounts themselves, most banks have categorised savings bank accounts for children in two categories: One for those below the age of 10 and another for those in the 10-18 age group.
