A sales representative is permitted to take all of the following actions EXCEPT:

By Investopedia AAA
A:

A sales representative is permitted to take all of the following actions EXCEPT:

a. Offer investment advice to clients
b. Accept unsolicited orders to trade registered non-exempt securities
c. Solicit orders for unregistered non-exempt securities
d. Place trades requested by a wife who has power of attorney for her husband's account






The correct answer is "c". While a sales representative may accept unsolicited orders for registered non-exempt securities, and may solicit order for registered non-exempt or unregistered exempt securities, he may not solicit orders for unregistered non-exempt securities. And, the sales representative may offer investment advice to clients as long as he does not charge a separate fee for that service.



RELATED FAQS

  1. Do I have to successfully complete the Series 7 exam before I can register for the ...

    There are no prerequisites to register for the Series 63 exam. However, once you have registered for the exam, you must schedule ...
  2. I completed the Series 6, do I have to complete the entire Series 7?

    After having written the Series 6 examination, there would be significant overlap with the Series 7 in areas such as mutual ...
  3. I need special accommodations when taking the Series 63 exam. How are such arrangements ...

    Learn more about special accommodations offered by Series 63 testing sites, and discover how to request special accommodations ...
  4. Do I need a class to take the Series 63 exam?

    Learn more about the educational requirements for the Series 63 and what candidates should study. Find out more about NASAA ...
RELATED TERMS
  1. Series 79

    A examination to ensure a candidate is qualified to become a ...
  2. Research Analyst

    A person who prepares investigative reports on equity securities. ...
  3. Series 34

    An exam required for individuals seeking to engage in off-exchange ...
  4. Financial Advisor

    One who provides financial advice or guidance to customers for ...
  5. Series 23

    An exam offered by the Financial Industry Regulatory Authority ...
  6. Series 28

    An exam given by the Financial Industry Regulatory Authority ...

You May Also Like

Related Articles
  1. Professionals

    Should You Add A Securities License ...

Trading Center