Canadian Securities Course (CSC) Level 1 Practice Exam

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Explain the Gatekeeper role and what Investment Advisors must do.

Gatekeepers are responsible for marketing securities
IAs must overlook account activities only
Gatekeepers monitor markets for potential wrongdoing, IAs collect and report client info
IAs must solely focus on investment opportunities

The correct answer is: Gatekeepers monitor markets for potential wrongdoing, IAs collect and report client info

The correct answer is C. Gatekeepers in the financial industry play a crucial role in monitoring the markets for any potential wrongdoing, such as insider trading or market manipulation. They act as regulators and work to ensure the integrity and fairness of the market. On the other hand, Investment Advisors (IAs) are responsible for collecting and reporting client information, assessing their financial goals and risk tolerance, and recommending suitable investment products and strategies based on their clients' needs. It is important for IAs to provide suitable investment recommendations and advice tailored to each client's individual circumstances, which goes beyond solely focusing on investment opportunities.