Series 9 Practice Questions - General Securities Sales Supervisor (Options) Exam

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A branch manager reviewing a new options account application notes the customer has 3 years of investment experience, a net worth of $85,000, and annual income of $60,000. The customer wants approval for Level 2 options trading (covered calls and long options). The manager should:

Approve the account as the financial profile is appropriate for Level 2 trading Deny the account because net worth below $100,000 disqualifies options trading Approve only Level 1 (covered calls only) based on the net worth Require the customer to complete a 10-hour options course first

Correct Answer:

Approve the account as the financial profile is appropriate for Level 2 trading

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