Series 6 - Investment Company And Variable Contracts Products Representative Exam
Discretionary accounts are subject to all of the following rules EXCEPT:
No churning may occur in the account relative to its size and the customer's investment objectives.A
An officer of the brokerage house must approve each order promptly and in writing before the order is entered.B
A record must be kept of all transactions.C
Each discretionary order must be identified as such at the time it is entered for execution.D
An officer or partner of the brokerage house must approve each order promptly and in writing, but NOT necessarily before order entry.