SIE Exam Question 341: Answer and Explanation

Question: 341

For existing customer accounts, how often do broker-dealers required to send a written notice to the customer for verification of account information?

• A. Every 5 years
• B. Every 3 years
• C. Every two years
• D. Annually

Correct Answer: B

Explanation:

B - Firms must verify customer information at least once every 36 months. The point of this requirement is to ensure that the account is still appropriate and the information on file is still accurate.