Question

An investment manager under contract to the account usually makes the investment decisions in the separate account. Final authority to approve or disapprove the contract rests with

Answer 1

In a separate account, the client or account holder has the final authority to approve or disapprove the investment contract.

Step-by-step explanation:

In a separate account, where an investment manager is under contract to make investment decisions, the final authority to approve or disapprove the contract rests with the client or the account holder. The client has the ultimate decision-making power regarding the contract.