A:

I. Engineers
II. Accountants
III. Teachers
IV. Attorneys

A. I, II, III, IV

B. II, III, IV

C. I, III

D. II, IV






Correct answer: A

So long as any advice rendered to customers is incidental to their basic profession all of these are exempt from registration under the Act of '40. The definition of investment adviser in the Act stresses that an Investment Adviser is, "…in the business of…" providing investment advice for a fee.



RELATED FAQS
  1. Under the Uniform Securities Act, registration with the Administrator as an investment ...

    The correct answer is c. I is incorrect, since broker-dealers or their agents who don’t receive a fee for making investment ... Read Answer >>
  2. Which statement(s) is/are FALSE about market risk?

    I. It is mitigated by writing calls.II. It includes the risk the investor will lose invested principal.III. It is the same ... Read Answer >>
  3. Which of the following are tools that are employed by the Federal Reserve in its ...

    I. Moral suasionII. Changing the discount rateIII. Changing the reserve requirementIV. Changing the prime interest rate A. ... Read Answer >>
  4. Which of the following signatures are required on a client’s new account form ... ...

    The correct answer is B. While local practices of a broker-dealer might require the client to sign the form, even when opening ... Read Answer >>
  5. Which of the following statements is (are) true with respect to setting the proper ...

    The correct answer is: d) Choice II is incorrect because the longer the investment horizon, the less emphasis must be placed ... Read Answer >>
  6. ABC Broker-dealer has no office in state and transacts fewer than five trades during ...

    The correct answer is b. Under these circumstances, the broker-dealer is not required to register with the state and the ... Read Answer >>
Related Articles
  1. Financial Advisor

    6 Proven Tips For Series 6 Success

    These techniques can help you pass this test without the added stress.
  2. Trading

    Introduction To Level II Quotes

    Level II quotes show a ranked list of the best bid and ask prices from each market participant, providing detailed insight into a stock’s price action.
  3. Personal Finance

    Tips for Taking the CFA Exam: Part 1

    Peter Mackey, head of exam development for the CFA Institute, shares his tips for taking the CFA level I, II and III exams.
  4. Financial Advisor

    Question the Funds Picked By Your Financial Advisor

    Learn the importance of having a financial adviser whom you can trust and why questioning the funds he selects is part of that process.
  5. Personal Finance

    Tips for Taking the CFA Exam: Part 2

    Peter Mackey, head of exam development for the CFA Institute, shares his tips for passing the CFA level I, II and III exams.
  6. Financial Advisor

    The Pros & Cons of a Financial Advisor Career

    Discover what a career as a financial adviser entails, and learn what pros and cons an individual faces when embarking on a career in this field.
  7. Financial Advisor

    The Top 5 Reasons Financial Advisors Leave Their Firm

    Understand what creates dissatisfaction between financial advisers and their firms, and learn the top reasons advisers ultimately make the decision to leave.
  8. Financial Advisor

    5 Traits the Worst Financial Advisors Share

    Learn how the worst financial advisers tend to share common traits, including greed, arrogance, ignorance and being difficult to reach when times are tough.
  9. Taxes

    Are You Missing Out On These Tax Exemptions?

    To lower your tax bill, make sure that you're taking all the exemptions that apply to you.
RELATED TERMS
  1. Piggyback Registration Rights

    A form of registration rights that grants the investor the right ...
  2. Basel III

    A comprehensive set of reform measures designed to improve the ...
  3. SEC Form 1

    An application for and amendments to an application for registration ...
  4. Incidental Expenses

    Expenses including fees and tips for porters, baggage handlers ...
  5. Small Corporate Offering Registration - SCOR

    A form of corporate securities registration designed to reduce ...
  6. Agency Cross

    A transaction in which an investment adviser acts as the broker ...
Trading Center