Series 65 - Laws & Regs || with 100% Errorless Answers.
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Series 65 - Laws & Regs
Institution
Series 65 - Laws & Regs
Blue Sky Laws correct answers Synonymous for Uniform Securities Act
Conservatorship correct answers Type of estate where a court-appointed guardian takes control of an incapacitated individual's financial, real estate, and other monetary affairs.
National Securities Market Improvement Act of ...
Series 65 - Laws & Regs || with 100% Errorless Answers.
Blue Sky Laws correct answers Synonymous for Uniform Securities Act
Conservatorship correct answers Type of estate where a court-appointed guardian takes control
of an incapacitated individual's financial, real estate, and other monetary affairs.
National Securities Market Improvement Act of 1996 (NSMIA) correct answers passed in order
to eliminated the dual registration of IAs at both Fed and State level (one or the other now, never
both).
Notice Filing correct answers state filing fee that federally registered advisers may have to pay in
the states they conduct business in.
Form ADV Part 1 correct answers General info about the adviser (name, address, type of
business organization, any violations in securities regulations, etc.).
Form ADV Part 2 correct answers A brochure, written in narrative form in plain English, which
must be delivered to each client. Contains info about business practices, fees, and possible
conflicts of interest.
De Minimis correct answers exemption that states if an IA has no more than 5 retail clients in a
certain state that they are not required to register.
Form 13F correct answers Financial report that shows the market value of securities held in a
portfolio. Advisers that have discretion over equity portfolio with market values > $100MM are
required to file within 45 days of the end of each quarter.
Exempt Reporting Adviser correct answers Advisors that have discretion over equity portfolios
w/ AUM of $100MM (but less than $150MM), are exempt from registration with the SEC, and
yt are still required to file Form 13F.
Federally exempt advisors correct answers 1. Private Fund Advisers w/ < $150MM in AUM
2. Advisers o Hedge Funds w/ < $150MM AUM
3. IA whose only client are insurance companies
4. IA that operates on INTRASTATE basis only, do not provide advice on listed securities and
do not have private fund clients.
5. Foreign private advisers.
Form ADV-W correct answers Form that withdraws registration for IAs, IARs, B/Ds, and
agents. Becomes effective 30 days after filing date.
Central Registration Depository (CRD) correct answers National database used by FINRA and
NASAA to store info on B/Ds, agents, IAs, and IARs.
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