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31 October, 03:05

An agent for a broker-dealer, both of which are registered in the State of Illinois, receives a telephone call from an existing customer who is on a layover in the airport in Atlanta, Georgia. The customer directs the agent to buy 1,000 shares of ABCD stock at the market. Which statement is TRUE? A. In order to accept this order, the agent must be registered in the State of Georgia onlyB. In order to accept this order, the agent must be registered in the State of Illinois onlyC. In order to accept this order, the agent must be registered in both the State of Georgia and the State of IllinoisD. The agent can accept this order without needing registration in any jurisdiction because it was unsolicited

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  1. 31 October, 04:01
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    The correct answer is B. In order to accept this order, the agent must be registered in the State of Illinois only

    Explanation:

    Brokers must perform a proficiency test and demonstrate asset solvency to register in the commissions or securities superintendence of each country, and thus be able to carry out their activity. They can also delegate their functions to agents, but the responsibility is always the responsibility of the agent. In general, they have a bachelor's degree in one of the fields of economic sciences: accounting, administration, economics, actuarial sciences or finance. In the case of brokers in the form of a legal entity, they must be under the supervision of a control body.
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