Basics Beginner: Broker Services

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1.
You will make more money using a full-service broker because of their knowledge and expertise than you would by going it alone.
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False. While brokers may have more financial education and expertise, they are not clairvoyant. You have as good a chance at making money investing by doing your own homework carefully.
2.
A brokerage may be able to offer checking and credit cards.
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True. Brokerage firms can offer asset management accounts that combine broker services with banking services such as checking and credit cards.
3.
The following statements are true of all brokers, except for _______.
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They provide advice on stock trades. While this is a service offered by full-service brokers, discount brokers provide only transaction services.
4.
Brokers may also be known as _______.
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Any of the other titles. They all refer to brokers.
5.
Full-service brokers can offer all of the following services except _______.
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Tax preparation. Preparing taxes is not one of the services of a full-service broker, but all of the other listed options may be.