SIE practice questionhardAccount Types - Options Account
Before a customer first trades options, the firm must:
- AObtain a signed options agreement after account approval✓ Correct answer
- BObtain a notarized statement of net worth
- CAssign a broker to the client
- DRequire immediate exercise of an option
Explanation
Why A — Obtain a signed options agreement after account approval
A signed agreement is required after approval. Net worth need not be notarized, broker assignment is not mandated, and exercise before trading is unnecessary.
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