Series 6 Unit 2

123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051
Across
  1. 6. A full power of attorney allows someone to make _______ decisions
  2. 7. This is a formal arrangement by two or more people to manage and operate a business and share its profits
  3. 9. A customer can give ________ power over their account(s) to someone else only by a trading authorization or limited power of attorney
  4. 10. A partnership must complete a partnership _______, stating which partner(s) can make transactions for the account
  5. 13. A person with limited power of attorney cannot make _______ of assets
  6. 15. When a customer only provides minimum information, they account can still be opened but suitability cannot really be determined. Only this type of trade can occur.
  7. 16. If a registered representative moves to a new firm, how long does the delivery of educational materials to former customers apply after the rep begins the new employment
  8. 18. Knowing your customer begins with the ________ form.
  9. 19. In this type of joint account provides that a deceased tenants fractional interest in the account is retained by that tenant's estate
  10. 22. ________ is required from the employer when a firm employee wishes to open an account with a different broker-dealer
  11. 25. Whose signature is required on the new account form
  12. 29. This is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business. All income (or loss) is that of the single individual
  13. 34. A partnership is known as an ___________ association
  14. 35. This type of account has one beneficial owner
  15. 37. In an advisory account, a fee is paid for _______
  16. 39. This is provided to clients by a RIA and describes how they do business, reveals any potential conflicts of interest, and clearly defines how the RIA is compensated
  17. 41. Any person who has access to nonpublic information about a company
  18. 43. In this type of account, the broker lends the customer cash to purchase stocks or other financial products
  19. 44. Customers have the right to _______ of the sharing of nonpublic personal information
  20. 46. What the "S" stands for in Regulation S-P
  21. 48. A registered Investment Advisor has a _______ obligation to act in the best interest of their clients
  22. 49. If the security has increased in value and the registered owner has passed away, the beneficiary will receive the higher tax valuation, which is referred to as a _____ ____ cost basis
  23. 51. In this type of joint account, all parties have equal undivided interests
Down
  1. 1. A _______ POA will survive a declaration of mental competence
  2. 2. The Customer _________ Program is a requirement of broker-dealers and is designed to verify the identity of any new customer
  3. 3. In a brokerage account, a fee is paid when a _________ occurs
  4. 4. Under Regulation S-P, each financial institution has the responsibility to protect the privacy of its customers ______
  5. 5. Accounts may be opened by any legally ______ person above the age of majority
  6. 8. In a prime brokerage account, this firm handles all trades place by the customer.
  7. 11. This suitability component requires a broker to examine the client portfolio and make sure that the recommendation is suitable in both amount and fit in light of the clients existing assets
  8. 12. The _______ firm has one day to validate the securities listed on the TIF form or take exception
  9. 14. ________ property is a marital property classification recognized by some states where most property acquired during the marriage is considered to be owned jointly by both spouses
  10. 17. __________ basis is one of the suitability components the gives the broker the obligation to perform due diligence and have a legitimate belief that the investment has the potential to earn a profit.
  11. 20. The Transfer _______ Form facilitates the transfer of securities from one trading account to another at a different brokerage firm or bank
  12. 21. This suitability component obligates the broker to have a reasonable basis to believe that a particular recommendation is suitable for a given customer
  13. 23. Brokers must make a __________ effort to obtain additional information when opening a new account, but a customer may neglect or refuse to provide all information
  14. 24. This is one of the exceptions made under the community property classification
  15. 26. This type of account charges a single fee for brokerage services
  16. 27. Generally, this is the type of customer in a prime brokerage account
  17. 28. This occurs when the value of an investor's margin account falls below the broker's required amount
  18. 30. This is an account that firms provide a group of services for a single fee.
  19. 31. A wrap account is generally an investment _______ account
  20. 32. _______ information is any material information that has not been disseminated to, or is not readily available to, the general public
  21. 33. When a person passes away, the cost basis to the beneficiary is the ___ on the date of the owner's death
  22. 36. This type of account has two or more owners
  23. 38. This type of account requires the customer to pay in full for securities purchased
  24. 40. This automates and standardizes the procedures for transferring customer accounts
  25. 42. The ________ firm sends the TIF form to ACATS
  26. 45. This type of account lets beneficiaries receive assets at the time of the registered owner's death without going through probate
  27. 47. The completed new account form (and any updated forms) must be sent to the customer within _____ days
  28. 50. In a prime brokerage account, this firm provides custody and other service.