Question

Each of the following roles may be performed by either a municipal securities principal or a municipal securities sales supervising principal EXCEPT: A) approval of executed trades/orders B) approval the opening of new accounts C) approval of newspaper and radio advertising D) approval of written correspondence to customers

Answer 1

Answer: Option (A) - Approval of executed trades or orders

Explanation:

Some of the roles that can be performed by municipal securities principal or municipal securities sales supervising principal include:

*** The approval of opening of customer accounts

***Approving discretionary accounts and related transactions

***Approval of advertising

***Communication with investors indirectly or directly concerning municipal securities

***Reviewing correspondence relating to sales to purchase from customers.

From the above information, it is fair enough to note that their roles do not in anyway include approving executed trades or orders