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Make sure you know which calculator to bring to your test. You know what they say: don't bring a buffalo chip to an Ultimate Frisbee tournament. I lost a lot of friends that day...

Excessive Trading Drill

  • 1.

    A customer has a power of attorney with the broker, but it has expired. The customer calls in an order and tells the broker to buy an amount of IBM that he thinks is appropriate. The broker:

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  • 2.

    A customer has a valid power of attorney and has opened a discretionary account. If the customer calls in with an order, the broker: