SIE Overview of the Regulatory Framework Practice Question 19

Correct Answer: D

Explanation:

D: Choice a D is correct because a person who is only doing clerical work is not considered an "associated person." Choices A, B, and C are incorrect because a person in senior management, a person who is a sole proprietor, and a person who is in investment banking controlled indirectly by the applicant are included in the definition of Associated Person under FINRA 1011 Definitions (b) "Associated Person."