Unit #2

Under the uniform securities act which of the following is not an investment advisor

A clerk employed by a state registered investment advisory firm

Under the uniform securities act which of the following is true regarding registration of investment adviser representatives

To register, a representative must submit a completed application for registration, a filing fee and signed consent to service of process

Which of the following regarding the registration of investment advisers and their representatives is true

ABC advisors registered with the administrator employs an investment adviser representative who left the employment of another investment advisory firm 6 months ago ABC must notify their administrators of this association promptly

Individuals working as IA are as for state registered investment advisors

Must register in any state which they the IAR maintains a place of business as well as any other state where they serve more than 5 retail clients

An investment adviser representative of a federal covered investment adviser

The administrator

If it investment adviser representative of a federal covered advisor that transacts business in a state terminates employment with that investment adviser, which of the following statements is true

The representative must notify the administrator

Which of the following is required to effectuate annual renewal of the registration of an investment adviser representative affiliated with a federal covered adviser

state licensing fee. All investment adviser representatives are registered with the States not the sec. Renewal requires the payment of the annual renewal registration or licensing fee

Only state registered investment advisory Firms

Are required to notify the appropriate state administrator when employment is terminated or begun in the case of investment adviser representatives of federal covered officers notification is the responsibility of the adviser representative investment adviser representatives of both state and federal registered investment advisers must be registered with the appropriate state administrator and the case of agents not only the broker dealer but also the agents must notify the administrator

When an investment adviser representative terminates employment with a federal covered investment advisor and then registers with the different federal cover investment adviser and the state were the individual has an office

Only the investment adviser representative must notify the administrator promptly

An individual currently registered as an agent with a broker dealer. If the agent would like to offer wrap fee programs through the firm all of the following statements are correct except

The agent will be defined as an investment adviser