An existing customer of a brokerage firm wishes to buy an initial public offering that he has heard good things about. The registered representative only has a limited number of shares to sell and explains to the customer that the offering is already "sold out." The customer tells the registered representative "If you can get me some of the stock, I will drop off cash payment in full today, with a little extra for you." The registered representative: a. Can accept the customers offer
b. Cannot accept the customers offer because cash payment for securities purchases cannot be excepted from a customer
c. Can except the customers offer if the extra cash payment does not exceed $500
d. Cannot except the customers office

d. Cannot accept the customer's offer

Explanation:

Apart from the offer being unethical, the registered representative also cannot accept the customer's offer because the registered representative is prohibited from accepting cash directly from a customer.

The cash would have to be deposited in the account of the customer so as to make it more legal. Even at that however, with a limited number of shares, ethical issues come into play about how the shares can be distributed between clients so the registered representative cannot accept the customer's offer.

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yes the correct answer was

b.the increased supply will create a surplus.