We will cover activities that require registration for investment adviser representatives (IARs), the essential terms related to registration, and post-registration activities.
Which form is used to register as an Investment Adviser Representative?
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A) Form BD is used to register as a broker-dealer. B) Form U4 is used to register as an Investment Adviser Representative. C) Form U5 is used to terminate registration as an Investment Adviser Representative. D) Form U10 is used to register for the Series 65 exam.
Which activity requires an individual to register as an Investment Adviser Representative?
A) Referring clients to an investment adviser for compensation requires registration as a solicitor. B) Providing investment advice on behalf of an investment adviser firm requires registration as an Investment Adviser Representative. C) Buying and selling securities on behalf of clients requires registration as a Registered Representative. D) Working for a broker-dealer requires registration as a Registered Representative.
Jane is a financial planner who wants to start providing investment advice to her clients. Before doing so, she must register as an IAR by completing Form U4 and passing the Series 65 exam. Once registered, she must comply with post-registration requirements, such as maintaining accurate records and adhering to ethical guidelines.
Which of the following activities typically requires registration as an investment adviser representative?
A) Providing investment advice is a service that typically requires registration as an investment adviser representative. B) Reading financial news is not a service provided to clients and does not require registration. C) Attending a financial seminar is not a service provided to clients and does not require registration. D) Discussing personal finances with a friend is not a professional service and does not require registration.
- *Activities requiring registration*: The specific actions or services provided by an investment adviser representative that necessitate registration with the appropriate regulatory authorities. - *Clients in different states*: Investment adviser representatives may need to register in multiple states if they have clients residing in those states. - *Clients in Canada*: Investment adviser representatives may need to register in Canada if they have clients residing in Canada.
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Example Series 65 Example Practice Question
- *Activities requiring registration example*: Providing investment advice, managing client portfolios, and soliciting new clients are all activities that typically require registration. - *Clients in different states example*: If an investment adviser representative has clients in California, Texas, and New York, they may need to register in each state.