Options Strategies
After a customer's options account is approved and the Options Disclosure Document is delivered, within how many days must the signed options agreement be returned?
Options agreement: must be returned within 15 days. No agreement = closing transactions only.
Complete Analysis & Legal Rationale
The signed options agreement must be returned within 15 days of account approval. If the agreement is not returned within this timeframe, the customer is limited to closing transactions only until the signed agreement is received.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
5 days is too short; the requirement is 15 days.
10 days is incorrect; the rule specifies 15 days.
30 days is too long; accounts would be restricted after 15 days.
Matches the verified teaching point in the explanation.
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA Series 7 outline.