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SIE Overview of the Regulatory Framework Practice Question 16

Question: 16

Which of the following is an obligation of each member firm under FINRA Rule 3110(e) – Responsibility of Member to Investigate Applicants for Registration?

Correct Answer: A

Explanation:

A: Choice A is correct because the member firm is obligated to document the applicant's identity. Choices B and C are incorrect because neither the driver's license nor the passport are required as the documentation. Choice D is incorrect because the member is required to document contacting employers of only the last three years.

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