Series 7 - General Securities Representative Exam

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Your client, James, wants to close his account. He is moving out of the area and will have a new registered rep. Which of the following are acceptable methods for account closure?

Liquidation of assets and have proceeds sent to him via check. Once the trades settle and proceeds are sent, the account will be closed
A
Transfer the assets in kind to another custodian. Once the ACAT is complete, the account will be closed
B
Transfer ownership of the account to his wife. Once the assets are transferred to her, the account will be closed
C
Liquidation of assets and have proceeds sent to him via check. Once the trades settle and proceeds are sent, the account will be closed, Transfer the assets in kind to another custodian. Once the ACAT is complete, the account will be closed & Transfer ownership of the account to his wife. Once the assets are transferred to her, the account will be closed
D

Explanations

All of the processes are methods for account closure

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