SIE Exam Question 743: Answer and Explanation

Question: 743

Which of the following is a system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another?

• A. ACATS
• B. ECN
• C. TRACE
• D. WIRE

Correct Answer: A

Explanation:

The Automated Client Account Transfer Service (ACATS) is a system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another.