📝 SIE Exam Question of the Day — April 1, 2026
What is the difference between a discretionary account and a non-discretionary account?
A) A discretionary account allows the registered representative to make investment decisions without prior approval, while a non-discretionary account requires client approval for each trade
B) A discretionary account requires client approval for each trade, while a non-discretionary account allows the registered representative to make investment decisions without prior approval
C) Both allow the registered representative to make investment decisions without prior approval
D) Both require client approval for each trade
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Topic: The Lifecycle of a Trade