Under the Uniform Securities Act, registration with the Administrator as an investment adviser is required in which of the following situations?
I. A broker-dealer that makes investment recommendations
II. A broker-dealer that charges a fee for securities advice.
III. A financial planner that charges a fee for investment recommendations.
IV. A general circulation investment newsletter.
II, III & IV
b) I & III
c) II & III
d) I & II
The correct answer is c.
I is incorrect, since broker-dealers or their agents who don’t receive a fee for making investment recommendations are not required to register, since the advice is considered incidental to their services. IV is incorrect, since investment newsletter publishers only need to register if they give recommendations based on specific client situations. However, broker-dealers and financial planners that provide investment recommendations for a fee do need to register as in investment adviser with the Administrator.
The correct answer is b. I, II and III are correct since all parties are required to notify the Administrator.
The correct answer is b. Under these circumstances, the broker-dealer is not required to register with the state and the ...
The correct answer is a. The sales representative or broker-dealer is required to pay interest, court and attorney’s fees ...
The correct answer is B. While local practices of a broker-dealer might require the client to sign the form, even when opening ...
The correct answer is c) I is incorrect because there is no margin requirement. III is incorrect because a call writer must ...
The correct answer is a) Good delivery between broker-dealers means “round lots” of 100 shares, or units that can be made ...
A person or firm in the business of buying and selling securities, ...
A type of order carried out by a broker-dealer which involves ...
An advisor or firm engaged in the investment advisory business ...
The act of selling undesirable securities from the broker-dealer's ...
The trading of securities, such as stocks, that occurs within ...
A standard form in the investment industry that ensures investment ...