Which of the Following Explains Why Many Commission-Only and Fee

question 14

Multiple Choice

Which of the following explains why many commission-only and fee and commission planners like their affiliation with broker dealers?

• A)It allows planners to reduce their due diligence on products
• B)It allows planner to pare their record keeping responsibilities
• C)It permits planners them to spend more time performing financial planning
• D)Both a and b
• E)All of the above

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Definitions:

Maker

The party in a transaction who creates or issues a promissory note, thereby promising to pay a certain sum to a specified person or entity.

Bearer

A person in possession of a negotiable instrument, such as a check or bond, that is payable to whomever holds it.

Drawer

In the context of banking and finance, it refers to the person who writes or issues a cheque or draft instructing the bank to pay a specified sum.

Unconditional

refers to something that is not subject to any conditions or limitations.