SIE Exam Question 54: Answer and Explanation

Question: 54

How often must customers receive account statements from a brokerage firm?

• A. Monthly, regardless of activity
• B. Monthly, if activity, otherwise semiannually
• C. Monthly, if activity, otherwise quarterly
• D. Quarterly, regardless of activity

Correct Answer: C

Explanation:

Customers must receive account statements from brokerage firms at least every quarter. Often, firms will send monthly statements to account holders with any activity.