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A representative pressures a client to decide immediately, refusing to give time to read the documents. Which duty is breached?

RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.

  1. a) Only a FIC Act duty.
  2. b) The duty to act in the client’s interest and give them adequate information and opportunity to make an informed decision.Correct
  3. c) No duty — urgency is good salesmanship.
  4. d) Only a record-keeping duty.

Why this is the answer

The Code requires acting fairly and in the client's interest, giving adequate information and a real opportunity to make an informed decision. High-pressure tactics that deny the client time to consider the documents breach that duty.

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