Q:

Under the Uniform Securities Act, registration requirements for an investment adviser representative may include 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

A:

The correct answer is a)

Investment advisor representatives do not need to include a minimum amount of net capital since only an investment adviser or a broker-dealer would need to prove this requirement. However, the investment adviser representative may be required to pass an exam, file a consent to service of process and post a surety bond, however (an investment adviser would fall under these same requirements as well).


MORE FAQS

  1. Under the Uniform Securities Act, the registration of an investment adviser results in automatic registration ...

  2. Under the Uniform Securities Act, a broker-dealer is generally required to obtain surety bond coverage ...

  3. Under the Uniform Securities Act, which of the following advisers is NOT defined as a federal covered ...

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

  5. Under the Uniform Securities Act, registration with the Administrator as an investment adviser is required ...

  6. Under the Uniform Securities Law, broker-dealers are required to sign a consent to service of process

  7. All of the following are unethical behaviors prohibited under the Uniform Securities Act EXCEPT ...

  8. What is the difference between fee-only advisors and fee-based advisors?

  9. Under the Uniform Securities Act, the Administrator of California may examine the financial books and ...

  10. The de Minimis clause for investment advisers means:

  11. Why are fee-based accounts preferred by many high net worth individuals (HNWI)?

  12. I have passed the Series 63 and FINRA Series 7, but would like to become licensed as an investment advisor. Should I take the Series 65 or Series 66?

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

  14. A sales representative or broker-dealer that violates the Uniform Securities Act when offering or selling ...

  15. Are dividends the best way to make money for retirement?

  16. How many attempts at each CFA exam is a candidate permitted?

  17. What's the average salary of a financial advisor?

  18. Why is Hong Kong considered a tax haven?

  19. Is smart beta cheaper than hedge funds?

RELATED FAQS

  1. Under the Uniform Securities Act, the registration of an investment adviser results ...

    The correct answer is b. Clerical employees do not need to be registered as investment adviser representatives, while solicitors, ...
  2. 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 ...
  3. 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 ...
  4. Under the USA, registration as an IAR includes all of the following EXCEPT:

    Under the USA, registration as an IAR includes all of the following EXCEPT: A. Minimum net capitalB. Passing a qualification ...
  5. 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 ...
RELATED TERMS
  1. Investment Adviser Registration Depository - IARD

    An electronic system through which investment advisers register ...
  2. Agency Cross

    A transaction in which an investment adviser acts as the broker ...
  3. Series 65

    A securities license required by most U.S. states for individuals ...
  4. Associate In Fidelity And Surety Bonding (AFSB)

    A designation earned by bond producers, bond underwriters, and ...
  5. Investment Advisers Act of 1940

    A piece of legislation passed in 1940 that, among other things, ...
  6. SEC Form ADV-W

    The form used to withdraw registration as a Registered Investment ...
Hot Definitions
  1. Benchmark

    A standard against which the performance of a security, mutual fund or investment manager can be measured.
  2. Mobile Wallet

    Mobile wallet is a virtual wallet that stores payment card information on a mobile device.
  3. Leverage

    1. The use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment. ...
  4. Trumponomics

    Trumponomics is a term for the economic policies of President Donald Trump.
  5. Universal Health Care Coverage

    An organized healthcare system that provides healthcare benefits to all persons in a specified region. Many countries, such ...
  6. Davos World Economic Forum

    The annual meeting of the World Economic Forum hosted at Davos—a small ski town in Switzerland—in January each year is among ...
Trading Center