Series 7 Exam Question 381: Answer and Explanation

Question: 381

Sam Smith sends an email to his registered rep, John Johnson, complaining about the amount of commission he was charged on his last trade. According to FINRA rules, what should John Johnson do with the complaint?

• A. Ignore it because the complaint needs to be in writing
• B. Print it out and give it to his principal
• C. Print it out and send it to FINRA
• D. Forward it to FINRA's complaint department

Correct Answer: B

Explanation:

B. All written complaints need to be handled by a principal and kept on file. Even though the complaint was sent via email, it's still considered a written complaint. The complaint does not need to be forwarded or sent to FINRA.