Account Types, Retirement Plans, and Customer Screening
Free FINRA Series 7 (General Securities Representative) lesson in Opening Accounts. 21 min read, ~3,221 words.
Pattern day trader = 4+ day trades in 5 business days, $25,000 minimum equity required. DVP/RVP = simultaneous delivery and payment, institutional accounts only. 457(b) distributions have NO 10% early withdrawal penalty at any age. CIP requires four items: name, date of birth, address, identification number. Discretionary accounts need written...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- B6
- B7
- B8
- B9
- B10
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