A registered representative services the brokerage account of her father-in-law at her broker-dealer. The father-in-law has asked the registered representative to act as the trustee in a trust account for her spouse and children. The following assets are being donated by the father-in-law into the trust:
Office Building: $15,500,000
Construction Company: $20,000,000
Construction Equipment: $ 2,000,000
The registered representative has agreed not to charge a trustee's fee to do this. Does she have to get permission of her broker-dealer to act as trustee?
A. No, because it is a family relationship
B. No, because the trust does not hold securities
C. No, because she is not being compensated to be the trustee
D. Yes, because this is an outside business activity
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A registered representative services the brokerage account of her father-in-law at her broker-dealer. The father-in-law has asked the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
How can unemployment porvety n human rights be a challenge to social responsibility?
Answers (1)
Megan, Uma, and Ricardo all work for the same car insurance company. Megan is a Sales Agent, Uma is an Underwriter, and Ricardo is an Accident Investigator.
Answers (1)
A married couple living together own a small farm. They grow several crops, producing most of the food they consume and selling the excess for cash.
Answers (1)
What agency ensures no harmful ingredients used in making of toys
Answers (1)
The term commonly used in accounting to describe the format for recording a transaction is: general ledger journal entry trial balance chart of accounts
Answers (2)
New Questions in Business
Adam's bank account has a balance of $1213.69 before he starts spending money. He makes the following transactions: Transaction Cost ($) Car payment 260.16 Groceries 97.98 Parking ticket 75.00 DVD box set 115.35 Antique lamp 68.53 Suit 331.
Answers (2)
When is a goodwill impairment loss recognized? a. Annually on a systematic and rational basis. b. Never When both the fair value of a reporting unit and its associated implied goodwill fall below their respective carrying values. c.
Answers (1)
The back of a box of hinode harvest blend rice mix suggests cooking with chicken broth for added flavor. this is an example of
Answers (1)
Market failure occurs when Question 22 options: an unrestrained market economy leads to too few or too many resources going to a specific economic activity. one good is superior to another and drives it out of the market.
Answers (1)
Using accrual accounting, revenues are recorded a. when cash is received at the time services are performed or products have been delivered to customers b.
Answers (1)