FINRA Series-7 Question Answer
Which of the following is true about a customer with a frozen account?
may not trade corporate securities under any circumstances
may make purchases but not sales of corporate securities
must deposit the full purchase cost before an order is executed
must deposit sufficient cash for each transaction no later than the settlement date
must deposit the full purchase cost before an order is executed. A “frozen” account is restricted to full cash payment in advance for any purchase.
TESTED 06 Jul 2025
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