Topics / Duties of a licensed broker
A broker learns that a client made an error in a document the law requires the client to execute. What must the broker do?
- Report the client to CBP immediately
- Nothing, unless CBP asks
- Correct the document without telling the client
- Advise the client promptly of the error and the proper corrective actions, and keep a record of the communication
Show the answer
D. Advise the client promptly of the error and the proper corrective actions, and keep a record of the communication
The broker must advise the client promptly of the noncompliance, error or omission, advise on the proper corrective actions, and retain a record of the communication.
Source: 19 CFR 111.39(c)
Want more like this?
A free account gives you a fresh set of practice questions every day, each with its rule and citation.