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. 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 ...
  3. 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 ...
  4. Why is it important for a financial advisor to have a unique value proposition?

    Understand the elements that make up a unique value proposition and why it's especially important for financial advisers ...
RELATED TERMS
  1. Section 12D-1 Limit

    A rule added to the Investment Company Act in 1964 to provide ...
  2. Piggyback Registration Rights

    A form of registration rights that grants the investor the right ...
  3. SEC Form ADV-E

    A certification of client assets, both cash and securities that ...
  4. SEC Form ADV-NR

    A request for the appointment of agency with the SEC. This type ...
  5. Registered Investment Advisor - RIA

    An advisor or firm engaged in the investment advisory business ...
  6. SEC Form S-6

    A filing with the Securities and Exchange Commission (SEC), which ...
Hot Definitions
  1. Protectionism

    Government actions and policies that restrict or restrain international trade, often done with the intent of protecting local ...
  2. Fiduciary

    A fiduciary is a person who acts on behalf of another person, or persons to manage assets.
  3. Demonetization

    Demonetization is the act of stripping a currency unit of its status as legal tender and is necessary whenever there is a ...
  4. Investment

    An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic ...
  5. Redlining

    The unethical practice whereby financial institutions make it extremely difficult or impossible for residents of poor inner-city ...
  6. Nonfarm Payroll

    A statistic researched, recorded and reported by the U.S. Bureau of Labor Statistics intended to represent the total number ...
Trading Center