Telemarketing and Cold-Calling Controls

Review the telemarketing procedures, time-of-day limits, and do-not-call controls that Series 4 applies to options solicitations.

Options telemarketing is treated as a distinct supervisory area because a fast sales pitch can easily outrun the actual disclosures a customer needs. Series 4 therefore expects the options principal to know the timing restrictions, do-not-call procedures, and broader telemarketing controls that govern options solicitations.

The exam often rewards the answer that respects process over convenience. If a telemarketing practice creates a risk of contacting the wrong person, at the wrong time, or without the right controls, the options principal should tighten the process before the firm continues using it.

Revised on Thursday, April 23, 2026