Which statements are TRUE about banks that have customer accounts holding both exempt and non-exempt securities?
I The bank must be registered as a broker-dealer under the. Securities
Exchange Act of 1934
II The bank does not need to be registered as a broker-dealer under the
Securities Exchange Act of 1934
III The bank must be member of the Securities Investor Protection
Corporation
IV The bank does not need to be a member of the Securities investor
Protection Corporation
A. I and III
B. I and IV
C. II and III
D. II and IV
A. I and III
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Answer the following statement true (T) or false (F)
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Indicate whether the statement is true or false
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