IACCP

1. Which THREE persons or firms may be excluded from having to register under the Investment Advisers Act of 1940? (Choose three.) A. Accountants whose advisory services pertain solely to incidental financial planning. B. Persons or firms whose advice and reports are related solely to U.S. government securities. C. Publishers of generally circulated, bona fide newspapers or financial journals. D. Domestic banks and bank holding companies.: B. Persons or firms whose advice and reports are r...

1. Which THREE persons or firms may be excluded from having to register under the Investment Advisers Act of 1940? (Choose three.) A. Accountants whose advisory services pertain solely to incidental financial planning. B. Persons or firms whose advice and reports are related solely to U.S. government securities. C. Publishers of generally circulated, bona fide newspapers or financial journals. D. Domestic banks and bank holding companies.: B. Persons or firms whose advice and reports are r...

1. Which THREE persons or firms may be excluded from having to register under the Investment Advisers Act of 1940? (Choose three.) A. Accountants whose advisory services pertain solely to incidental financial planning. B. Persons or firms whose advice and reports are related solely to U.S. government securities. C. Publishers of generally circulated, bona fide newspapers or financial journals. D. Domestic banks and bank holding companies.: B. Persons or firms whose advice and reports are r...

money laundering definition Correct Answer: criminal activity that occurs when money from illegal activity is moved through the financial system to make to appear legit OFAC Correct Answer: OFAC oversees the enforcement of federally mandated economic sanctions against certain foreign governments, financial institutions, and the SDN List. SDN List Correct Answer: individuals &various entities that are targets of sanctions either due to drug trafficking, terrorism, or other illegal activi...

Investment Adviser Correct Answer: Person or entity that is in the business of providing investment advice about securities Fiduciary Correct Answer: an investment adviser owes its clients undivided loyalty and may not engage in activity that conflicts with a client's interest without the client's consent Who is required to register with the SEC? Correct Answer: 1) an investment advisor under Section 202(a)(11) of the Advisors Act 2) Not excepted from the IA definition 3) Not exempt f...

Section 17(a)(2) Exchange Act Correct Answer: Prohibits any untrue statements of material fact or material omissions in the offer or sale of securities Section 17(a)(3) Exchange Act Correct Answer: Prohibits engaging in a course of business which operates as a fraud or deceit in the offer or sale of securities Section 17d Correct Answer: Basically no affiliate of an affiliate of a RIC can sell any stock to the company Section 17d-1 Correct Answer: Applications regarding joint enterp...

4 elements of "investment advice" Correct Answer: 1. Advice about market trends 2. Advice in historical or data form 3. Advice about selecting an adviser 4. Advice about the pros and cons of securities vs. other investments What is the RAUM threshold for Registered Advisers? Correct Answer: $150 million What is the RAUM range of a "Mid Sized adviser"? Correct Answer: $25-100 million What two factors determine whether mid size advisers are required to register? Correct Answer: ...

"Investment Adviser" person/firm compensated for engaging in business of (directly or indirectly) advising others on securities or the advisability of investing (or) who issues analysis/reports concerning securities - SEC vs Capital Gains Research Bureau basis of Fiduciary Rule, specifically Best Interest SEC Registration Required when 1) definition of "IA" is met (unless otherwise excepted from definition or exempt/prohibited from registration); AND $100M in AUM (optional for Mid-Size...

The SMC Capital, Inc. No-Action Letter (September 5, 1995) states that trade allocations may occur: A. Only on a rotational basis B. On a pro rata basis but other allocation methods can be used without violating the Advisers Act C. Only on a pro rata basis D. Based on the trader's good faith discretion - B. On a pro rata basis but other allocation methods can be used without violating the Advisers Act Which of the following should NOT be a factor when evaluating best execution? A. Pric...

Which THREE persons or firms may be excluded from having to register under the Investment Advisers Act of 1940? (Choose three.) A. Accountants whose advisory services pertain solely to incidental financial planning. B. Persons or firms whose advice and reports are related solely to U.S. government securities. C. Publishers of generally circulated, bona fide newspapers or financial journals. D. Domestic banks and bank holding companies. - B. Persons or firms whose advice and reports are re...