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Quintin has been a Dealing Representative for Global Maximum Financial for 5 years.

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Quintin has been a Dealing Representative for Global Maximum Financial for 5 years. Today, he opened an account for his new client, Reginald. In addition to opening a new account, Reginald agreed to

accept Quintin's investment recommendation and placed a purchase order to buy units of the Global Maximum Value Equity fund.

Quintin informed his Branch Manager Lupita about this new account on the same day the purchase order was received. Lupita told Quintin that she would complete her review of the New Client Application Form (NCAF) by no later than tomorrow.

Which statement regarding this new account opening is CORRECT?

A.

Quintin cannot accept purchase orders from a client until Lupita completes her review of the NCAF.

B.

Lupita has two business days from the date of opening the new account to approve the NCAF completed by Quintin.

C.

Quintin and Lupita are both following proper procedure regarding new account openings and purchase orders.

D.

Unless Quintin is presently under probation, he does not need Lupita's approval regarding the NCAF.

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