unit 3

Question 1

if an investment adviser is registered in another state and has no place of business within an admins state, the adviser is exempt if

Answer 1

the adviser has no more than 5 retail clients who are residents of the state

Question 2

An IAR may not earn commission on the sale of securities unless also registered as an

Answer 2

agent

Question 3

if an entity is a federally covered advisor (IA) the IAR only need to register in

Answer 3

places of business

Question 4

if an IA is federally covered and an IAR is terminated who must the IAR contact

Answer 4

must notify the administrator, IA does not need to notify anyone because he is federally covered

Question 5

what does the acronym LATE stand for?

Answer 5

lawyers, accountants, teachers, engineers

Question 6

once a IAR is using a temporary facility to meet with prospective clients it is…?

Answer 6

considered that there is a place of business in that state and they will need to register