NZX Derivatives Adviser Practice Questions - NZX Derivatives Adviser Accreditation Assessment Exam

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Under NZX Derivatives Market Rule 9.3, what must be done before a Participant can execute a client's first derivatives transaction?

The client must provide a bank-guaranteed line of credit. The client and the Participant must sign a written Client Agreement containing the prescribed disclosures. The Participant must verify that the client has at least $100,000 NZD in net assets. The client must pass a formal derivatives competency examination administered by the firm.

Correct Answer:

The client and the Participant must sign a written Client Agreement containing the prescribed disclosures.

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