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Series 7 Study Guide Navigation Communications with customers covering their accounts, the processing of customer requests, and document retention There’s no denying that keeping accurate records in just about every aspect is a critical part of the daily workings of a broker-dealer. Of course, we immediately think of the details of the transactions they make … Read more

Series 7 Study Guide Navigation Give clients information regarding disclosures linked to the different characteristics of various investment products, the risks associated with them as well as the services offered and expenses charged In this section of Module 3, we are specifically looking at how registered representatives must provide clients with various critical pieces of … Read more

Series 7 Study Guide Navigation Analyze customer’s portfolio of investments as well as product options to work out if recommended investments are of an applicable standard Registered representatives are tasked with making suitable investment suggestions to their clients. But they also have to advise clients by providing them with information that’s appropriate to their investment … Read more

Series 7 Study Guide Navigation Passing on investment strategy information to customers, informing them of risks and rewards as well as communicating research, market, and investment data Studying a client’s investment portfolio and analyzing accounts is an essential part of the work a registered representative does. That’s because, by doing so, the right products can … Read more

Series 7 Study Guide Navigation When it comes to opening accounts for natural persons, what are the legal requirements? Well, there is a process that needs to be followed. That process starts with a new account form. Member firms must create a separate record for each account as stipulated by FINRA Rule 4512. These individual … Read more

Series 7 Study Guide Navigation An effort is made to gather customer investment profile information which includes their financial situation, other securities/assets, investment objects, and tax details. The client’s goals and objectives are something that must be discussed as well. You can start with their investment goals. Remember, the goal is the endpoint and objectives … Read more

Series 7 Study Guide Navigation It’s the know your customer rule (KYC) that is the most important aspect when it comes to suitability. Also known as FINRA 2090, the member firm and associated person dealing with a customer has an obligation to request information from them that will help determine suitability requirements. It’s not easy, … Read more

Series 7 Study Guide Navigation Tells potential customers about the account types available and discloses their restrictions We begin with the different customer accounts available. The most common are: There are others that we will cover too. When we talk about a basic investment account, a cash account immediately springs to mind. That’s because it’s … Read more

Series 7 Study Guide Navigation With the intent of soliciting business, describing investment products to both potential and current customers As you know, there are numerous types of securities available in the marketplace including those issued by governments (federal, state, and local) as well as corporations. For the most part, these securities are purchased as … Read more

Series 7 Study Guide Navigation In-person, telephonic, mail, and electronic contact with potential and current customers; marketing and advertising material development and the approval to distribute them. There are two major reasons why broker-dealers need to communicate effectively with the public. The first reason is that advertising – a critical form of communication for all … Read more