FINRA Series 28: Introducing Broker/Dealer Financial and Operations Principal Exam

What are the specific circumstances under which Interest payments to customers are considered as liabilities as per SEC Rule 15c3-1?

Correct!

Not Correct

Select an option above to see an explanation here.

A) Accrued but unpaid interest reduces net capital. B) This is incorrect because the frequency of payment does not determine when interest payments are considered liabilities. C) This is incorrect because the frequency of payment does not determine when interest payments are considered liabilities. D) This is incorrect because the frequency of payment does not determine when interest payments are considered liabilities.