This question-specific review guide is tied to the answer reasoning for a PracticeTestVault item. Use it after you answer the question so the review stays focused on what the prompt actually tested.
What this question is testing
Objective: Identify the supervisor's responsibility for opening new accounts
Prompt focus: Under FINRA rules, a new customer account record must be approved by a designated principal within what time frame relative to account opening?
Why the correct answer works
Promptly, with the principal's approval evidenced in writing
A designated principal must promptly approve the new account record and document that approval in writing.
Why the tempting wrong answer fails
The tempting wrong answer usually loses because it skips the key condition, priority, or evidence in the prompt.
Plain-language takeaway
A registered principal must review and approve each new account record promptly, indicating approval in writing. The principal verifies that required customer information has been obtained and that the account is appropriate to open.
Simple analogy
Think of identify the supervisor's responsibility for opening new accounts like following a short checklist: identify the clue, confirm the rule, and then make the move that fits this exact scenario.
How to review it before a retake
- Underline the command word and name what the question is asking before rereading the choices.
- Compare the correct answer against the closest distractor and write the exact detail that separates them.
- Retest this objective with a fresh question without looking at the rationale first.