Series 63 practice questioneasySuitability - Client Objectives
Which of the following factors would NOT generally be considered by an agent when determining suitability under the Uniform Securities Act?
- AClient's risk tolerance
- BClient's marital status✓ Correct answer
- CClient's investment objectives
- DClient's financial situation
Explanation
Why B — Client's marital status
The USA requires agents to consider risk tolerance, objectives, and financial situation (USA 401(b)). Marital status alone is generally irrelevant unless it directly affects financial status or objectives.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Regulation of Broker-Dealers & Agents questions
- A client gives written permission for her agent to trade as frequently as desired. If the agent excessively trades for…
- An individual who represents an issuer in a transaction involving which of the following securities would NOT need to…
- A client wants steady income but also expresses interest in speculative technology stocks. The agent recommends a…
- An agent at a broker-dealer executes frequent transactions in a retired client's account, claiming it is to take…
- Two agents servicing the same account independently execute frequent trades, each claiming the other is responsible.…
- All of the following are true about state authority over federal covered securities EXCEPT:
- A client with a high risk tolerance loses her job and notifies her agent. The agent continues to recommend speculative…
- An agent in State E tells a client that a mutual fund is 'registered in State E,' implying state review of the fund’s…