FINRA General Securities Representative SIE Question # 33 Topic 4 Discussion
SIE Exam Topic 4 Question 33 Discussion:
Question #: 33
Topic #: 4
For up to how many business days is a firm initially permitted to place a temporary hold on disbursements for a specified adult account in which the firm reasonably believes financial exploitation has occurred?
Temporary Hold Period: Under FINRA Rule 2165, a firm can initially place a hold on disbursements for up to 10 business days if financial exploitation is suspected.
Additional Holds: The period may be extended by an additional 10 business days if warranted and allowed by state law.
Incorrect Options:
A & B: These are shorter than the permissible period.
D: The initial hold period is capped at 10 business days.
Chosen Answer:
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