General Securities Sales Supervisor (Series10) Practice Exam

What does the term "office of convenience" refer to?

1. A location that must be registered

2. A temporary office for conducting trades

3. Non-regular meeting locations by appointment

4. A location solely for virtual meetings

The correct answer is: Non-regular meeting locations by appointment

The term "office of convenience" typically refers to non-regular meeting locations used by registered representatives for client meetings that are arranged by appointment. This setup allows financial professionals to meet clients in various settings that may not be formally designated as a permanent office. The key aspect of an office of convenience is the flexibility it provides for financial professionals to engage with their clients outside of a traditional office environment. The other options describe different concepts. A registered location has specific compliance requirements and must be properly noted in a firm’s registration. A temporary office for conducting trades may imply a location used for a limited time but doesn't emphasize the nature of client meetings. A location solely for virtual meetings does not fit the traditional definition, as the office of convenience is intended for in-person client interactions at alternative venues.