About This Chapter
Disclosing Financial Account Types & Restrictions - Chapter Summary
As you go through these lessons on disclosing financial account types and restrictions, you'll get clarity on what's required for adherence to FINRA Rule 4515. There's also information about FINRA Rule 4512 concerning customer account information that must be retained. By the end of the chapter, you should be able to:
- List characteristics of securities accounts
- Describe investment account registration types
- Recall what's required to open a customer investment account
- Discuss wealth events and investment account registrations
- Explain how FINRA Rule 4514 is applied
- Give an example of an account designation change
The fun teaching methods employed by our instructors make it easy to grasp concepts related to disclosing financial account types and restrictions. You'll also appreciate the brief lesson quizzes that measure your comprehension of the topics covered. Our online learning platform offers many other convenient features, including the ability to print the lessons as offline study worksheets.
1. Securities Accounts: Types & Characteristics
In this lesson you will learn the types and characteristics of many common securities accounts including cash, margin, commission, fee-based, advisory, and more.
2. Requirements for Opening Customer Investment Accounts
FINRA upholds the integrity of the U.S. financial markets by designating rules for member firms. During this lesson, we will review FINRA Rule 4512, which outlines requirements for opening new investment accounts.
3. FINRA Rule 4515: Account Name or Designation Changes
In this lesson, you will learn about the differences between investment advisors and broker dealers, as well as what information must be supplied to a brokerage firm when an order is placed.
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Other chapters within the Series 6 Exam: Study Guide & Practice course
- Financial Advertising & Communications With the Public
- Describing Investment Products & Services
- Understanding Retirement Plans & Tax Advantaged Accounts
- Obtaining Basic Customer Information & Documentation
- Obtaining Customer Investment Profile Information
- Obtaining Supervisory Approvals for Investment Accounts
- Analyzing Investment Portfolios & Financial Statements
- Types of Underlying Securities
- Understanding Funds, Trusts & Investment Companies
- Understanding Municipal Fund Securities
- Variable Life Insurance & Annuity Contracts
- Tax Treatment of Investment Profiles
- Disclosing Investment Product Information
- Updating Investment Customers & Retaining Customer Records
- Processing & Confirming Financial Transactions
- Resolving Investment Disputes & Customer Complaints