SERIES 7: Prospecting for New Customers

What does NOT need to be included in a fax sent to a customer?

# of pages

At what times can can cold calling happen?

- 8am-9pm of party being called

A fax sent to a customer must contain:

- Date + time fax was sent - Identity of the sender - Telephone #

Who regulates cold calling?

- Federal and FINRA rules

What must be relayed when cold calling?

- Identity of caller - Number or address of firm

What must be done when the person being called states they do not want to be called in the future?

- Maintain list in a "do not call" list - Compare this to the national "do not call" list

Cold Calling Act rules do not apply to..

- Non-profit organization

Prior business relationship

- Person contacted has account with person making the call - Has been some form of activity in account during last 18 months

What can unregistered cold callers NOT do?

- Pre-qualify or profile prospects

What can unregistered cold callers do?

- Send investment literature - Set up appointments with a RR - Extend invites to events

TRUE or FALSE: A BD can outsource telemarketing functions

- TRUE - they remain responsible for compliance of all provisions

What type of calling is prohibited to health care facilities and radio common carriers?

- Use of auto-dialing in conjunction with pre-recorded messages

When does the "no call" restriction not apply?

- When there's a prior business relationship

TRUE or FALSE: Unsolicited or "junk fax" is prohibited

TRUE