Regulations Mastery Exam Flashcards
does the 20-day cooling off period for registration restart if an amendment is filed?
Yes
If there is a material change to a contract, what mist be filed with the SEC?
Form ADV Part 2A and balance sheet
How many days are there under the Investment Advisers Act to file an appeal to suspension of registration?
60 days
What is the timeframe for filing audit results with the Administrator?
30 days from completion of audit
Do advisers need to keep records of customer funds received in error?
Yes
What is a person under the uniform securities act?
Someone who can sell or trade securities
What is net capital?
A firms liquid net worth - liquid assets - liabilities
If an adivsor is not an individual do furnishings and automobiles add to net capital?
yes
When must material changes to form ADV Part 2 be filed with SEC?
promptly
How long must b/d records be kept?
3 years; 6 for customer account statements
Who does FINRA regulate?
Broker dealers
Can the solicitors brochure be combined with the advisers brochure?
No
Can a current court proceeding be a cause to deny registration?
No
Do customers have to approve of changes to an advisory contract?
Yes
If an IAR has no office in a state and its only clients are institutions, is it required to register?
No
