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← Series 7: Opens & Maintains Customer Accounts
Series 7 practice questioneasyAccount Documentation — New Account Form

Which of the following pieces of information is typically required on a new account form?

  1. ACustomer's Social Security number, date of birth, and employment status✓ Correct answer
  2. BCustomer's favorite investment blog
  3. CNames of the customer's personal friends
  4. DCustomer's GPA from college
Explanation

Why A — Customer's Social Security number, date of birth, and employment status

A new account form requires essential identifying and financial information including the customer's name, address, Social Security number (or Tax ID), date of birth, citizenship, employment status, annual income, net worth, investment objectives, and risk tolerance. This information is necessary for regulatory compliance, suitability determinations, and tax reporting.

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