Series 63 practice questioneasySharing in Accounts
Under the USA, when may an agent share in the profits or losses of a client's account?
- ANever under any circumstances
- BOnly with the firm’s and client’s written consent✓ Correct answer
- COnly if the client is a family member
- DIf the agent guarantees against losses
Explanation
Why B — Only with the firm’s and client’s written consent
An agent may share in profits or losses only with written consent from both the client and the broker-dealer (USA Section 402). Family relationship or guarantees do not exempt this requirement.
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