Series 6 - Investment Company And Variable Contracts Products Representative Exam

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A dealer includes:

A firm that charges a fee or commission for executing buy and sell orders for a customer and any person engaged in the business of effecting transactions in securities for the accounts of others that is not a bank
A
A brokerage firm when it acts as a principal in a particular trade only
B
A firm that charges a fee or commission for executing buy and sell orders for a customer, any person engaged in the business of effecting transactions in securities for the accounts of others that is not a bank and a brokerage firm when it acts as an agent for a customer and charges a commission
C
A brokerage firm when it acts as an agent for a customer and charges a commission only
D

Explanations

A dealer includes the role of a brokerage firm when it acts as a principal in a particular trade.