Across
- 6. A full power of attorney allows someone to make _______ decisions
- 7. This is a formal arrangement by two or more people to manage and operate a business and share its profits
- 9. A customer can give ________ power over their account(s) to someone else only by a trading authorization or limited power of attorney
- 10. A partnership must complete a partnership _______, stating which partner(s) can make transactions for the account
- 13. A person with limited power of attorney cannot make _______ of assets
- 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.
- 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
- 18. Knowing your customer begins with the ________ form.
- 19. In this type of joint account provides that a deceased tenants fractional interest in the account is retained by that tenant's estate
- 22. ________ is required from the employer when a firm employee wishes to open an account with a different broker-dealer
- 25. Whose signature is required on the new account form
- 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
- 34. A partnership is known as an ___________ association
- 35. This type of account has one beneficial owner
- 37. In an advisory account, a fee is paid for _______
- 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
- 41. Any person who has access to nonpublic information about a company
- 43. In this type of account, the broker lends the customer cash to purchase stocks or other financial products
- 44. Customers have the right to _______ of the sharing of nonpublic personal information
- 46. What the "S" stands for in Regulation S-P
- 48. A registered Investment Advisor has a _______ obligation to act in the best interest of their clients
- 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
- 51. In this type of joint account, all parties have equal undivided interests
Down
- 1. A _______ POA will survive a declaration of mental competence
- 2. The Customer _________ Program is a requirement of broker-dealers and is designed to verify the identity of any new customer
- 3. In a brokerage account, a fee is paid when a _________ occurs
- 4. Under Regulation S-P, each financial institution has the responsibility to protect the privacy of its customers ______
- 5. Accounts may be opened by any legally ______ person above the age of majority
- 8. In a prime brokerage account, this firm handles all trades place by the customer.
- 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
- 12. The _______ firm has one day to validate the securities listed on the TIF form or take exception
- 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
- 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.
- 20. The Transfer _______ Form facilitates the transfer of securities from one trading account to another at a different brokerage firm or bank
- 21. This suitability component obligates the broker to have a reasonable basis to believe that a particular recommendation is suitable for a given customer
- 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
- 24. This is one of the exceptions made under the community property classification
- 26. This type of account charges a single fee for brokerage services
- 27. Generally, this is the type of customer in a prime brokerage account
- 28. This occurs when the value of an investor's margin account falls below the broker's required amount
- 30. This is an account that firms provide a group of services for a single fee.
- 31. A wrap account is generally an investment _______ account
- 32. _______ information is any material information that has not been disseminated to, or is not readily available to, the general public
- 33. When a person passes away, the cost basis to the beneficiary is the ___ on the date of the owner's death
- 36. This type of account has two or more owners
- 38. This type of account requires the customer to pay in full for securities purchased
- 40. This automates and standardizes the procedures for transferring customer accounts
- 42. The ________ firm sends the TIF form to ACATS
- 45. This type of account lets beneficiaries receive assets at the time of the registered owner's death without going through probate
- 47. The completed new account form (and any updated forms) must be sent to the customer within _____ days
- 50. In a prime brokerage account, this firm provides custody and other service.