Question 64

A specified adult is defined as an individual who is age 65 or older.

In the context of FINRA rules, a specified adult is defined as an individual who is 65 years of age or older. Therefore, the 63-year-old customer does not qualify, while the 66-year-old customer does.

A) A 19-year-old individual who just recently opened a new brokerage account and is new to investing

This option is incorrect as it describes a 19-year-old individual, who does not meet the age requirement of 65 years or older to be classified as a specified adult under FINRA rules.

B) A 35-year-old individual who wants to be named a trusted contact person on their father's account

This option is also incorrect. The individual in question is only 35 years old, which is below the specified age threshold of 65 years to qualify as a specified adult.

C) A 63-year-old customer who appears to be in good mental health

This option is incorrect since the individual is 63 years old, and does not meet the 65 years age requirement to be considered a specified adult as defined by FINRA rules.

D) A 66-year-old customer who frequently calls customer service

This option is correct as it describes a 66-year-old individual, who meets the age requirement of 65 years or older, thus qualifying them as a specified adult under FINRA rules.

Conclusion

The correct answer is D) a 66-year-old customer who frequently calls customer service, as this individual meets the age criteria set forth by FINRA to be classified as a specified adult. All other options either fail to meet the minimum age requirement or do not pertain to the definition set by the regulatory body.