Learn account-opening, documentation, KYC, suitability-profile, and supervisory-approval duties tested on Series 82.
The second Series 82 chapter turns from finding investors to determining whether the firm may open the relationship and accept the investor into the offering process. This chapter tests account-opening mechanics, identity and documentation requirements, customer-profile review, investor accreditation and sophistication checks, and supervisory approvals.
Private offerings often involve additional documents and investor representations, so account-opening questions on Series 82 are rarely generic. The exam expects the candidate to understand both standard brokerage-account obligations and the extra documentation that private placement transactions often require.