Final 1

Question 1

When must a customer be given a privacy notice?

Answer 1

Prior to first transaction

Question 2

Are agents or IARs required to have minimum net capital?

Answer 2

No

Question 3

What defines a b/d?

Answer 3

Person engaged in the business of effecting securities transaction

Question 4

Do TIPS interest payments calculate based on par or adjusted par?

Answer 4

adjusted par

Question 5

If you have been imprisoned for 1 year or more can you register with SEC?

Answer 5

No

Question 6

how to calculate total return on investment?

Answer 6

Original investment

Question 7

Are 529 funds guaranteed in any way?

Answer 7

no

Question 8

Can IARs share in gain and loss of customer accounts?

Answer 8

No

Question 9

What kind of income is real estate income?

Answer 9

Passive

Question 10

What do registered advisors have to keep at their principal office?

Answer 10

records of customer sales and securities positions

Question 11

What is the “de minimus” exemption under the Investment Advisers Act of 1940

Answer 11

15 persons w/in 12 months

Question 12

Does total return have to be annualized?

Answer 12

yes

Question 13

What kind of education can 529 accounts pay for?

Answer 13

Only higher education

Question 14

When must form 13F be filed with SEC?

Answer 14

Within 45 days of quarter-end

Question 15

When must amendments be filed with SEC?

Answer 15

promptly

Question 16

When must amendments be filed with the state?

Answer 16

30 days