n NISM Certifications
VII NISM Series VII
Medium

A stock broker can maintain a running account of a client if authorization is received, which is signed by ________.

Practice question from NISM Series VII Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Only the client himself/herself

    Correct answer

  2. B

    Any authorized person

  3. C

    The holder of Power of Attorney

  4. D

    Any of the above

Why this is the answer

The running account authorization must be signed only by the client. It cannot be signed by any authorized person or holder of a Power of Attorney.

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NISM Series VII Mock Test 6