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Q72 Single choice

Which of the following statements about nominee name accounts is TRUE?

A
The dealer is the registered owner of the account and holds funds in trust for the client.
B
Discretionary trading on a client's account, without specific instructions, is permitted.
C
Holding accounts in nominee name means the client no longer needs to provide any trading instructions.
D
A Limited Trading Authorization (LTA) is necessary since the dealer, and not the client, is the registered owner of the mutual funds.

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