Finra Exam Series-6 Topic 9 Question 77 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 77
Topic #: 9

Joan is a customer of GetErDone Broker-Dealers. Her twin sister, Jean, has accompanied her to GetErDone's office and has gathered some information regarding opening an account with the firm, giving it her contact information at the same time.

Under Regulation S-P, which of the following statements regarding GetErDone's handling of Joan's and Jean's personal information is true?

AGetErDone must provide Joan with a notification of its privacy policies annually and provide her with information on how to mandate that it not share her nonpublic personal information with nonaffiliated third parties.

BGetErDone can disclose any information that Jean provided them to nonaffiliated third parties since Jean is not a customer of the broker-dealer.

CGetErDone is required to have provided Jean with a copy of its privacy policy when she inquired about opening an account with the broker-dealer.

DAll of the above are true statements.

Show Suggested Answer

Suggested Answer: A

Since Joan is a customer of GetErDone, GetErDone must provide her with a notification of its privacy policies annually and provide her with information on how to mandate that it not share her nonpublic personal information with nonaffiliated third parties. GetErDone may not disclose any information about Jean, who is not yet a customer of the firm, unless the broker -dealer has provided Jean with its privacy policy and given her the opportunity to opt out of its ability to share her information with nonaffiliated third parties. GetErDone is not required to have provided Jean with a copy of its privacy policy when she inquired about opening an account, but it will need to provide her with one when/if she becomes a customer.

by Portia at May 10, 2024, 05:19 PM

Limited Time Offer

25%

7 months ago

What do you think about that question about Joan and Jean at GetErDone Broker-Dealers?

upvoted 0 times

...