When is a broker allowed to 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 an acknowledgement is received from the principal that the deal is done.
D) When both back offices acknowledge the deal.

Question

Quizplus · Accepted Answer

The broker is allowed to assume a deal is closed when an acknowledgement is received from the principal that the deal is done. This provides clear and direct confirmation from the involved parties and reduces the risk of the broker assuming a deal is closed when it may not actually be.

When Is a Broker Allowed to Assume a Deal Is