Series 79 practice questioneasyBooks and Records Requirements
Under SEC Rule 17a-4, how long must a broker-dealer retain records relating to communications with customers, such as emails, in an easily accessible place?
- AOne year
- BTen years
- CTwo years✓ Correct answer
- DFive years
Explanation
Why C — Two years
Business communications are generally retained for three years total under Rule 17a-4(b)(4), with the first two years in an easily accessible place. Because the stem asks only for the easily accessible period, C is correct.
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