Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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Which of the following entities are subject to post-registration provisions?
I. broker-dealers
II. agents
III. investment advisers
IV. investment adviser representatives
  1. I and II only
  2. I and III only
  3. II and IV only
  4. All of the entities are subject to post-registration provisions.
Explanation
Answer: B - Only selections I and III are subject to post-registration provisions. Broker-dealers and investment advisers can be required to file advertising materials and financial reports with the Administrator, as specified by the Administrator. They are also required to keep records to the specifications of the Administrator. These records will include items such as client e-mails, client letters of complaint, and advertising brochures and must be kept for three years.
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