Q:

Under the Uniform Securities Act, the registration of an investment adviser results in automatic registration of any investment adviser representative who is a:
a) Solicitor of the investment adviser
b) Partner of the investment adviser
c) Sales representative of the investment adviser
d) Administrative employee of the investment adviser

A:
The correct answer is b.
Clerical employees do not need to be registered as investment adviser representatives, while solicitors, sales representatives and other employees who give investment advice must so register. However, any directors, partners or officers named in the investment adviser’s registration application are automatically registered as investment adviser representatives.

RELATED FAQS

  1. Under the Uniform Securities Act, which of the following advisers is NOT defined ...

    The correct answer is b). Federal covered advisers include those who manage client assets of $25,000,000 or more or who advises ...
  2. The de Minimis clause for investment advisers means:

    A. An investment adviser must register with the state if it holds less than $25 million in assets.B. An investment adviser ...
  3. If an issuer wishes to register a security in the state ...

    The correct answer is a. Registration by coordination is permitted when the issuer has filed a registration application with ...
  4. Why are fee-based accounts preferred by many high net worth individuals (HNWI)?

    Learn why many high-net-worth individuals prefer fee-based financial advisers, and learn how commission based advisers may ...
RELATED TERMS
  1. Investment Adviser Registration Depository - IARD

    An electronic system through which investment advisers register ...
  2. SEC Form ADV-W

    The form used to withdraw registration as a Registered Investment ...
  3. SEC Form ADV

    The application for registration as an investment adviser or ...
  4. Piggyback Registration Rights

    A form of registration rights that grants the investor the right ...
  5. Investment Advisers Act of 1940

    A piece of legislation passed in 1940 that, among other things, ...
  6. Section 12D-1 Limit

    A rule added to the Investment Company Act in 1964 to provide ...
Hot Definitions
  1. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
  2. Life Insurance

    A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the ...
  3. Price Elasticity Of Demand

    A measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. Price ...
  4. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
  5. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center