Series 24: Buyer's Option

Taken from our Series 24 - FINRA General Principal Qualification Examination

Definition of the term Buyer's Option...

a form of settlement where, if the seller agrees, delivery must occur at the purchaser's office on the new agreed-upon option date. Under a buyer's option, the buyer is not obligated to accept delivery prior to the option date and the seller is not required to provide any written notices prior to delivery.

Since you're reading about Series 24: Buyer's Option, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 24
Please Enable Javascript
to view this content!