Question
1 point Before accepting an investment opportunity, you should use FINRAs BrokerCheck to research your broker. What information is available on their website (hint: choose 3 correct answers) A background check Any compliant history An opportunity to request evidence that this broker is a sworcn fiduciary A list of this broker's fees and profits
Answer
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Lorelei
Master · Tutor for 5 years
Answer
The information available on FINRA's BrokerCheck includes:- A background check- Any complaint history- It does not directly offer an opportunity to request evidence that this broker is a sworn fiduciary.
Explanation
FINRA's BrokerCheck is a free tool designed to help investors research the professional backgrounds of brokerage firms and individual brokers. It provides several key pieces of information:1. **Background Check**: This includes information on a broker's experience, qualifications, and employment history, helping investors understand the broker's professional background.2. **Complaint History**: BrokerCheck offers details on any complaints or regulatory actions against the broker. This is crucial for assessing the broker's reliability and integrity.3. **List of Fees and Profits**: While BrokerCheck provides information on a broker's transactions and possible conflicts of interest, it might not provide a detailed list of fees and profits in the sense of explicit amounts or percentages for specific transactions. However, it does offer insights into the broker's dealings that could indirectly inform about potential costs.The option about requesting evidence that the broker is a sworn fiduciary is not directly offered through BrokerCheck. While the information available can help infer the broker's adherence to fiduciary duties (based on their history of compliance and professional conduct), explicit evidence of being a "sworn fiduciary" requires more specific documentation and is related to the broker's registration and regulatory requirements.