Exercise
Please answer true or false.
1. _____ A commodity customer agreement obligates the customer to maintain required margins in its account at all times.
2. _____ In a commodity customer agreement, a firm has the right to liquidate any customer positions or cancel any open orders if the customer fails to keep sufficient capital in its account.
3. _____ Customers must receive disclosure documents, but they do not have to attest to reading them.
4. _____ Firms must decide whether to liquidate, exercise, or allow contracts to expire within some designated time, and inform customers of this decision.
5. _____ Customers must affirm that financial information is true on their commodity customer agreement.
6. _____ Discretionary authority may be given verbally, as long as the written authority is given within 10 business days of the first transaction.
7. _____ Discretionary authority is required when making