Series 7 practice questionmediumReferral Programs — Compensation Limits
A broker-dealer wants to reward an unregistered bank employee for referring clients. What is the maximum value of a non-cash gift that can be given annually without violating FINRA rules?
- A$200
- B$50
- C$0—no gifts are permitted
- D$100✓ Correct answer
Explanation
Why D — $100
FINRA rules allow non-cash gifts with a value up to $100 per individual per year to persons not registered with a broker-dealer.
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