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Lana Is Registered as a Limited Representative and Is Employed

Question 129

Multiple Choice

Lana is registered as a limited representative and is employed by Everything Investments. Her duties include selling mutual funds and variable contracts products to the firm's clients. She has been particularly successful in selling variable contracts offered by OneLife insurance company. As a "thank you" for her hard work, OneLife has offered her a ticket to an upcoming play at a local dinner theatre. Given this scenario, which of the following statements applies?


A) Lana will have to pass on the offer. Lana is prohibited from receiving compensation from anyone other than Everything Investments.
B) Lana can accept the offer as long as Everything agrees to it and as long as it is not an ongoing thing and/or preconditioned on her achieving a specified sales target.
C) Lana can accept the offer without Everything's approval in this instance since the offer does not involve cash.
D) Lana will have to pass on the offer. She is permitted to receive only cash compensation in an amount not to exceed $100 from an entity other than Everything, and then only with Everything's approval.

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