Series 7 practice questionmediumCold Calling Rules and Telemarketing — Recordkeeping Requirements
How long must a broker-dealer maintain records of its telemarketing policies and procedures?
- A2 years from the date the record was made
- B3 years from the date the record was made✓ Correct answer
- CIndefinitely
- D5 years from the date the record was made
Explanation
Why B — 3 years from the date the record was made
FINRA requires retention of telemarketing records and procedures for at least 3 years from the date of creation.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 758+ Series 7 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 Seeks Business for the Broker-Dealer questions
- Which of the following is required if a broker-dealer uses prerecorded telemarketing messages?
- A registered representative wants to call a prospect who is on the national Do-Not-Call list. Under which circumstance…
- A registered representative receives a lead from a third-party vendor. Before calling the lead, what must the…
- When making a telemarketing call to a prospective client, which information must a registered representative provide at…
- If a customer requests in writing to be added to a firm's internal Do-Not-Call list, what must the firm do?
- A client asks your firm to add her to the firm's internal Do-Not-Call list. Which of the following statements is TRUE…
- A registered rep calls a person on the national Do-Not-Call list at 8:30 AM local time. The person had inquired about…
- A registered representative wishes to make solicitation calls to prospective clients in New York. Which of the…