According to NASAA's Statement of Policy on Unethical and Dishonest Business Practices of Broker/Dealers and Agents, in which of the following situations has an agent acted improperly in placing a client's order?
A) A client sends a letter about an extended business trip stating that in her absence, she wants the agent to accept orders from her husband, which the agent does.
B) After a client's death, an agent receives instruction from a court-appointed administrator to liquidate the account; the agent sells all securities in the account at a loss.
C) A client asks the agent to buy 1,000 shares of a specific high-quality technology stock this week for her nondiscretionary account. The agent places an order promptly for 1,500 shares because the market has begun to take off. By the end of the day, the stock is 5 points higher than the purchase price.
D) An elderly client with an individual account is in the hospital and her daughter calls the agent to request a liquidation of assets to provide $10,000 for the payment of medical expenses. The agent refuses to place the order.
Answer: A client asks the agent to buy 1,000 shares of a specific high-quality technology stock this week for her nondiscretionary account. The agent places an order promptly for 1,500 shares because the market has begun to take off. By the end of the day, the stock is 5 points higher than the purchase price.