Series 7 - General Securities Representative Exam

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When is it permissible for a registered rep to give a firm quote?

When the RR's firm is acting in an agency capacity in the transaction for the underlying security
A
When the RR's firm is a market maker in the underlying security
B
When the RR's firm is a broker-dealer and is prepared to give the order to a broker's broker
C
When the RR's firm is a broker-dealer that is prepared to submit the order to an ECN
D

Explanations

Firm quotes can only be given when an RR's firm is a market maker in the security. Firm quotes indicate that the security can be bought or sold at the quoted prices instantly

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