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Newbie's Client, Mr

Question 301

Multiple Choice

Newbie's client, Mr. Nomad, has decided that he wants to go on an extended backpack trip through the Amazon. Since he'll be out of touch, he has given a friend of his limited power attorney to act on his behalf. Based on this, Mr. Nomad's friend can:
I. present Ms. Newbie with an order to purchase securities on Mr. Nomad's behalf.
II. present Ms. Newbie with an order to sell securities on Mr. Nomad's behalf.
III. request a check be issued to him so that he can send Mr. Nomad some money.


A) I only
B) I and II only
C) I, II, and III
D) none of the above. Only a relative can hold a power of attorney to engage in financial transactions for the grantor.

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