Account Types
A representative is gathering information for a new account application. Which question would be inappropriate to ask?
Asking about chronic health conditions is inappropriate and not required for account opening. Know Your Customer rules require financial information, employment, investment objectives, and risk tolerance - not medical in
Complete Analysis & Legal Rationale
Asking about chronic health conditions is inappropriate and not required for account opening. Know Your Customer rules require financial information, employment, investment objectives, and risk tolerance - not medical information. Health-related questions could also raise discrimination concerns.
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:
Does not match the governing concept in the explanation.
Does not match the governing concept in the explanation.
Matches the verified teaching point in the explanation.
Does not match the governing concept in the explanation.
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA materials.