Investment Company and. Variable Contracts Products Principals (Series 26) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Investment Company and Variable Contracts Products Principals (Series 26) Exam. Study with interactive quizzes, multiple-choice questions, and comprehensive explanations. Boost your exam confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Within what period must a firm send a copy of the account record to each customer after opening the account?

15 days
30 days
45 days
60 days

The correct answer is: 30 days

A firm is required to send a copy of the account record to each customer within 30 days after the account has been opened. This requirement is in place to ensure that customers have accurate information about their accounts, including details such as investment objectives, financial information, and any updates that might be relevant to their relationship with the firm. This practice not only promotes transparency but also helps customers verify that the information on record aligns with their understanding and agreements with the firm. Providing account records in a timely manner is a critical aspect of maintaining trust and facilitating effective communication between the firm and its clients.