Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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Which of the following does not need to be included in an investment advisory contract?
  1. the term of the contract
  2. the total amount of money that the investment adviser currently has under management
  3. the advisory fees and the formula used to compute them
  4. a statement that the contract cannot be assigned to another party without the client’s consent
Explanation
Answer: B - The amount of money that the investment adviser currently has under management need not be included in an investment advisory contract. The contract does have to include the term of the contract, the advisory fees and the formula used to compute them, and a statement that the contract cannot be assigned to another party without the client’s consent, along with other information.
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