A:

Under the USA, registration as an IAR includes all of the following EXCEPT:



A. Minimum net capital
B. Passing a qualification exam
C. Filing a consent to service of process
D. Posting a surety bond




The correct answer is "A", since only an IA would need to prove minimum net capital requirements. The IAR may be required to pass an exam, file a consent to service of process and post a surety bond, however (an IA would fall under these same requirements as well).



RELATED FAQS
  1. Under the Uniform Securities Act, registration requirements for an investment adviser ...

    The correct answer is a) Investment advisor representatives do not need to include a minimum amount of net capital since ... Read Answer >>
  2. In your initial meeting with an investment advisor representative (IAR) ...

    The correct answer is b): The investment advisor representative (IAR) can tell the prospective client all of the following ... Read Answer >>
  3. Under the Uniform Securities Act, a broker-dealer is generally required to obtain ...

    The correct answer is c. The correct answer is $10,000. While the Act states that the Administrator may set the amount, the ... Read Answer >>
  4. Under what circumstances can an IA choose to sell a security for a client without ...

    A. When the transaction is less than $5,000B. When the IA decides only how many shares to sellC. When the client tells the ... Read Answer >>
  5. Under the Uniform Securities Law, broker-dealers are required to sign a consent ...

    The correct answer is c. The consent to service of process appoints the Administrator as attorney in the event of any lawsuits ... Read Answer >>
  6. Do I need to pass the Series 63 if I am just taking orders for securities?

    Learn about the requirements for practicing a financial profession. Find out who is required to take the Series 63 exam and ... Read Answer >>
Related Articles
  1. Financial Advisor

    Series 63, Series 65 Or Series 66?

    When joining the world of investment professionals, you must take the right exams.
  2. Investing

    How Google & Twitter Compete with Facebook's Instant Articles (FB, GOOG)

    Look at how Facebook's Instant Articles feature works, and how it differs from the new Accelerated Mobile Pages feature from Google and Twitter.
  3. Insights

    What It Takes To Be "Made In The USA"

    Discover the rules and standards behind the "Made in the USA" label.
  4. Financial Advisor

    How Robo-Advisors Are in Reach for More Clients

    With competition heating up in the robo-advisor market, account minimums are dropping as major players fluctuate on deciding how much to charge clients.
  5. Financial Advisor

    Who Needs to Take the Series 65?

    Most states require individuals to pass the Series 65 exam in order to act as investment advisors.
  6. Investing

    An Inside Look At Internal Auditors

    Find out why these number crunchers are part of every chief officer's dream team.
  7. Insights

    Why Minimum Wage Is a Kingmaking Issue in Elections

    Minimum wage is an essential issue for presidential candidates in the lead-up to the 2016 election. We look at the reasons why.
  8. Financial Advisor

    Tips on Passing the CFA Level I on Your First Attempt

    Obtain valuable tips and helpful study instructions that can help you pass the Level 1 Chartered Financial Analyst exam on your first attempt.
  9. Personal Finance

    What To Do If You Failed Your CFA Exam

    Follow these steps to increase your odds of passing your next CFA exam.
  10. Financial Advisor

    How Hard are the CFA Exams?

    Learn about the difficulty of the CFA exams with a description of the tests, some statistics on pass rates and suggestions that can help you pass the exams.
RELATED TERMS
  1. Investment Advisory Representative - IAR

    Personnel that work for investment advisory companies whose main ...
  2. Surety

    The guarantee of the debts of one party by another. A surety ...
  3. Construction Bond

    A type of surety bond used by investors in construction projects ...
  4. Consent Solicitation

    The process by which a security's issuer proposes changes to ...
  5. Maintenance Bond

    A type of surety bond purchased by a contractor that protects ...
  6. Piggyback Registration Rights

    A form of registration rights that grants the investor the right ...
Trading Center