When may a broker assume a deal is closed?
A) When one of the principals confirms the deal
B) When the principals give a written undertaking for all deals done at the end of the day
C) When acknowledgement is received from the principals that the deal is done
D) When both back offices acknowledge the deal

Question

Quizplus · Accepted Answer

The broker should assume a deal is closed when acknowledgement is received from the principals that the deal is done. This ensures that both parties agree that the deal is final and eliminates any misunderstandings or miscommunications. The other options listed (A, B, and D) cannot guarantee that the deal is truly closed without further confirmation or verification.

When May a Broker Assume a Deal Is Closed