This month’s study question from the Solomon Online Exam Simulator question database is now available.
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This question is relevant to the Series 7, 14, 51, 52, and 53 exams.
Question:
MSRB Rule G-38 states that a broker-dealer may not pay any person to solicit municipal securities business on its behalf who is not an affiliated person of the firm. For the purposes of the rule, an affiliated person is:
Answer Choices:
A. Any person who works for the firm
B. Only a partner, director, or officer of the firm
C. Only a registered employee of the firm
D. Only an unregistered clerical or ministerial employee of the firm
Correct Answer: A – any person who works for the firm
Explanation: An affiliated person is anyone who is a partner, director, officer, employee, or registered person of the broker-dealer.
any person that works for the firm