Series 7 practice questioneasyOptions — Options Account Requirements
Who is ultimately responsible for approving a customer's options account?
- AThe registered representative
- BThe branch manager or Registered Options Principal (ROP)✓ Correct answer
- CThe Options Clearing Corporation
- DFINRA directly
Explanation
Why B — The branch manager or Registered Options Principal (ROP)
A Registered Options Principal (ROP) or branch manager with the appropriate registration must approve each customer's account for options trading. The ROP evaluates the customer's financial situation, investment objectives, and trading experience before granting approval.
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