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      Question

      Settlements, clearances, record maintenance, regulatory

      compliance, accounting, etc. are functions of which level?
      A front office Correct Answer Incorrect Answer
      B middle office Correct Answer Incorrect Answer
      C back office Correct Answer Incorrect Answer
      D middle management Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      The back office is the portion of a company made up of administration and support personnel who are not client-facing. Back-office functions include settlements, clearances, record maintenance, regulatory compliance, accounting, and IT services. A financial services firm is segmented into three parts:  the front office (Direct facing with the client be it sales, marketing, or customer support), the middle office (risk management), and  the back office (administrative and support services)

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