Under FAIS, in what situations can a client be classified as a professional client?

Under FAIS, in what situations can a client be classified as a professional client?

• A. When the client is experienced, sophisticated with substantial assets or knowledge; qualifies for reduced protections.
• B. When they are new to investing and have minimal assets.
• C. When they request to be treated as professional regardless of qualifications.
• D. Only when regulatory designation is met.

Answer: (A)