Under the nasaa statement of policy, an agent of a broker-dealer that has discretionary authority would not be subject to the prohibition on excessive trading of a customer account as long as the:
a. customer consents in writing to each recommended transaction
b. account is a non-managed fee based account
c. account has consistently increased in value
d. broker-dealer discounts the commissions charged to customers that are active traders

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.