CTFA practice question 6 of 35
Customer accounts: Ensure that the firm is exercising due diligence in the opening and supervision of customer accounts. The procedures should be…
Choose your answer, then check it against the explanation.
Customer accounts:
Ensure that the firm is exercising due diligence in the opening and supervision of customer accounts.
The procedures should be formalized in writing and in accordance with the rules and regulations of
the appropriate regulatory authority. Ensure that daily customer positions and option exercises are in
accordance with the limits established by the appropriate exchange. Verify that commissions
generated by customer trades are properly calculated and posted to the general ledger.
Question 6 of 35
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