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SIE Exam Practice Question 406

Question: 406

Your client wishes to make a substantial investment in a mutual fund your firm is offering. In order to qualify for a reduced sales load, they sign a letter of intent which gives them:

Correct Answer: B

Explanation:

B: A letter of intent is not an obligation but rather a show on one's intent to invest an amount equal or more than a mutual fund's breakpoint level so as to qualify for the reduced sales charge. LOI gives 13 months to do so.

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