Q:
Customer account records of NFA members must be kept for:
a) 2 years
b) 3 years
c) 5 years
d) 7 years
A:

The correct answer is c) 5 years

NFA rules state that members must keep all customer records for 5 years.
© 2004 American Investment Training, Inc.


RELATED FAQS

  1. A customer has a short margin account. The account has equity of $15,000 ...

    Free info on financial certification exams including study guides, exam questions, and much more!
  2. Committing acts against the Commodity Exchange Act can result in fines up to ... ...

    Free info on financial certification exams including study guides, exam questions, and much more!
  3. A “normal market” is also called a (an): A) Inverted market b) Carrying charge market ...

    Free info on financial certification exams including study guides, exam questions, and much more!
  4. You observe the following exchange rates in the following markets ...

    Free info on financial certification exams including study guides, exam questions, and much more!
  5. A customer sells a 6% corporate bond on Tuesday October 4th for regular settlement ...

    Free info on financial certification exams including study guides, exam questions, and much more!
  6. KLM Corporation shares just paid a dividend of $1.34. Earnings are expected to grow ...

    Free info on financial certification exams including study guides, exam questions, and much more!
RELATED TERMS
  1. Net Foreign Assets (NFA)

    The value of overseas assets owned by a nation, minus the value ...
  2. National Futures Association - NFA

    The independent self-regulatory organization for the U.S. futures ...
  3. NFA Compliance Rule 2-43b

    A 2009 rule implemented by the U.S. forex industry's self-regulatory ...
  4. Series 24

    A securities license entitling the holder to supervise and manage ...
  5. Series 66

    An exam administered by the Financial Industry Regulatory Authority ...
  6. Series 14

    An exam administered by the Financial Industry Regulatory Authority ...
Hot Definitions
  1. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  2. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  3. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  4. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  5. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  6. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
Trading Center