During the apprenticeship period, which describes permissible duties?

• A. Soliciting customer orders
• B. Earning commissions
• C. Dealing with other municipal securities professionals and performing clerical duties
• D. Negotiating underwriting terms with issuers

Answer: (C)

The main idea tested is what a trainee may do under MSRB rules during the apprenticeship period. The rules permit tasks that support the business without handling customer orders or earning commissions. Clerical duties—like filing, data entry, and preparing documents—are allowed under supervision because they involve administrative work that doesn’t require making or committing to trades. Dealing with other municipal securities professionals is also permitted, since it involves routine communications and information exchange within the market rather than direct interaction with customers or negotiating terms. In contrast, activities such as soliciting customer orders, earning commissions, or negotiating underwriting terms with issuers require a higher level of registration and responsibility and are not allowed for someone in the apprenticeship phase.