Series 7 practice questionhardCold Calling Rules and Telemarketing — Internal Do Not Call List Procedures
A broker-dealer receives a request from a prospect to be added to the firm’s internal Do Not Call (DNC) list. Which of the following best describes the firm’s regulatory obligations after receiving this request?
- AThe firm must report the request to FINRA within 30 days.
- BThe firm may continue to call for up to 30 days while processing the request.
- CThe firm can remove the prospect from the internal DNC list after 5 years if no further requests are made.
- DThe firm must honor the request immediately and maintain the prospect’s number on the internal DNC list indefinitely.✓ Correct answer
Explanation
Why D — The firm must honor the request immediately and maintain the prospect’s number on the internal DNC list indefinitely.
Under FINRA and FCC rules, a firm must immediately honor a do-not-call request and retain the number on its internal DNC list permanently (indefinitely), not just for a set period.
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