Series 63: Chapter 2 Practice Questions

Taken from our Series 63 Online Guide

Chapter 2 Practice Questions

  1. 1. All of the following would likely be considered an investment adviser representative except a(n):
  2. A. Customer service rep who is paid bonuses based on how clients rate his service
  3. B. Stockbroker who receives an agreed-upon dollar fee for giving advice to each client
  4. C. Wealth manager who receives a fee equal to a percentage of the assets she manages
  5. D. Investment professional whose firm pays him a salary regardless of how many clients he advises
  6. 2. Which of the following is the key distinguishing feature between an investment adviser and an IAR?
  7. A. The adviser works for the IAR
  8. B. The IAR works for the adviser
  9. C. The IAR must meet a net capital requirement
  10. D. Only the investment adviser, not the IAR, can make recommendations to clients
  11. 3. Which of the following would not need to register as an Investment Adviser Representative?
  12. I. Someone who performs only clerical duties
  13. II. Someone who serves no more than five non-institutional clients per year in a state besides their home state
  14. III. An IAR who receives less than $500 in annual fees
  15. IV. Someone who is working as an agent for a broker-dealer and only gives incidental advice
  16. A. I and III only
  17. B. I, II, III, and IV
  18. C. I, II, and III
  19. D. I, II, and IV
  20. 4. An investment adviser representative will typically be required to meet all of the following registration and post-registration requirements except:
  21. A. Exam or evidence of qualification
  22. B. Have a sponsoring firm
  23. C. Background check
  24. D. Net capital requirements
  25. 5. An investment adviser representative’s registration must typically be renewed by:
  26. A. December 31st of each year
  27. B. One year from the original registration
  28. C. Two years from the original registration
  29. D. 30 days after his or her firm renews their primary registration
  30. 6.&#

Since you're reading about Series 63: Chapter 2 Practice Questions, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 63
Please Enable Javascript
to view this content!