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Record Keeping Comply with regulated record keeping requirements
A representative must record the material aspects of the service rendered. Which of the following is NOT a material aspect that needs to be recorded?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The representative's personal lunch preferences for the day of the meeting.Correct
- b) The disclosures made to the client about the product.
- c) The client's instructions and any mandate provided.
- d) The advice given and the basis on which it was given.
Why this is the answer
The representative's lunch preferences are irrelevant — the correct 'NOT' answer. The advice and its basis, the client's instructions and mandate, and the disclosures made are all material aspects that must be recorded.
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