When a member firm buys or sells securities directly as principal with a public customer, it is acting as:
A)a dealer
B)a broker
C)an agent
D)none of the above

Name: When a member firm buys or sells securities directly as principal with a public customer, it is acting as: A)a dealer B)a broker C)an agent D)none of the above
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Question

Quizplus · Accepted Answer

a dealer. When a firm does business directly with a customer, it is acting as a dealer. When it represents a customer, it is acting as a broker.

When a Member Firm Buys or Sells Securities Directly as Principal