Opening and Maintenance of Customer Options Accounts

Series 9 begins with options account approval because options supervision starts before the first order is entered. The designated options principal needs to know whether the customer can be approved at all, whether the disclosure package was delivered properly, whether uncovered writing is permitted, whether the strategy fits the customer profile, and whether margin handling is correct for the approved activity level.

Read this chapter as the front-end control layer of the exam. The first lesson covers account-opening documentation and exceptions. The second covers options suitability and strategy review. The third covers margin, discretionary authority, and portfolio-margin supervision.

In this section

• New Account Approval, Disclosures, and Exception Handling
  Learn how Series 9 tests options-account approval, options disclosure document delivery, uncovered-writer controls, customer verification, and exception review.
• Options Suitability, Best Interest, and Strategy Review
  Learn how Series 9 tests options suitability, Reg BI themes, investment strategy review, and supervisory oversight of representative recommendations.
• Margin, Discretionary, and Portfolio-Margin Supervision
  Learn how Series 9 tests options margin treatment, discretionary-account control, uncovered positions, and portfolio-margin oversight.