FINRA Series 63 (NASAA)

Category - Series 63

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Harry Lange manages the investment portfolio for the Fidelity Magellan Mutual Fund. Mr. Lange is a(n)

broker-dealer.
agent.
investment adviser.
investment company.

Explanation

Answer: C - If Harry Lange is managing the investment portfolio of Fidelity Magellan Mutual Fund, he is an investment adviser. He is making the investment decisions and receives a percentage of the assets under management as his compensation. He is not selling the mutual fund or the fund’s investors anything, which is the job of a broker-dealer or an agent. Fidelity Magellan is the investment company.

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FINRA Series 63 (NASAA)

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FINRA Series 63 (NASAA)

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