Question: A client has instructed her registered representative to pick a stock and the number of shares to buy for her account and said to execute
A client has instructed her registered representative to pick a stock and the number of shares to buy for her account and said to execute "when you think the time is right." Which of the following statements is TRUE regarding this situation?
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AThe representative may follow the client's request without discretionary authorization.
BThe representative may only determine the amount of the trade, not the specific stock, without discretionary authorization.
CSince the client instructed her representative to buy" discretionary authorization is not required.
DFor the representative to execute a trade like this, discretionary authorization is required.
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