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?
QID:2998001
Mark For Review
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.
40%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!