1|Page
IACCP Master QBank ,MOST RECENT EXAM 2026
ACTUAL COMPLETE REAL EXAM TESTING
QUESTIONS AND VERIFIED ANSWERS||VERIFIED
EXAM (MULTIPLE CHOICES) |COMPLETE SOLUTIONS
| A+ GRADED |100% CORRECT!! NEWEST EXAM!!
An SEC-registered investment adviser is NOT required to
disclose "material" disciplinary information in its Form ADV
Part 1 after:
A. 5 years
B. 10 years
C. 12 years
D. 15 years - Answers-B. 10 years
Which event would be deemed an assignment of an
investment advisory contract?
A. An adviser hires a new CEO to replace its current
retiring CEO.
B. An adviser is purchased by an unaffiliated adviser.
C. Any public offering of an adviser's stock.
,2|Page
D. An adviser organized as a corporation changes its
structure to a partnership. - Answers-B. An adviser is
purchased by an unaffiliated adviser
The Investment Advisers Act of 1940 requires that written
investment advisory agreements must address:
A. proxy voting.
B. assignment of the contract.
C. brokerage arrangements.
D. fees. - Answers-B. assignment of the contract.
If an investment adviser becomes ineligible for SEC
registration, which document must be filed to terminate its
registration?
A. Form DRP
B. Form ADV-W
C. Form ADV Part 2A
D. Form U5 - Answers-B. Form ADV-W
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During an examination of XYZ Investment Advisers, the
SEC discovers that two of Adviser's portfolio managers
have been engaged in frontrunning client accounts.
Neither Compliance nor Senior Management had any
knowledge of the scheme. If Adviser can show to the
SEC's satisfaction that it had developed and enforced
procedures reasonably designed to prevent frontrunning,
Adviser will be able to claim that, despite the violation,
Adviser has met its duty to:
A. assist the SEC.
B. maintain required books and records.
C. eliminate internal control deficiencies.
D. supervise. - Answers-D. supervise.
SEC-registered advisers that have proxy voting authority
for clients must do which TWO of the following? (Choose
two.)
A. Adopt procedures to ensure proxies are voted in the
best interest of clients.
B. Disclose to clients information about the firm's proxy
policies and procedures on Form ADV Part 2.
, 4|Page
C. Create a proxy voting committee to address conflict
situations.
D. Provide information to clients on how their proxies were
voted. - Answers-A. Adopt procedures to ensure proxies
are voted in the best interest of clients.
D. Provide information to clients on how their proxies were
voted.
In which THREE circumstances is an adviser deemed to
have custody under the SEC Custody Rule? (Choose
three.)
A. The investment adviser is mistakenly sent a check
payable to the client and returns it to the sender within five
business days of receipt.
B. The investment adviser deducts advisory fees from the
client's account with the client's prior written consent.
C. The investment adviser takes possession of a check
drawn by the client that is payable to a third party.
D. The investment adviser acts as one of three or more
trustees in regards to an advisory client's account. -
Answers-A. The investment adviser is mistakenly sent a
check payable to the client and returns it to the sender
within five business days of receipt.
IACCP Master QBank ,MOST RECENT EXAM 2026
ACTUAL COMPLETE REAL EXAM TESTING
QUESTIONS AND VERIFIED ANSWERS||VERIFIED
EXAM (MULTIPLE CHOICES) |COMPLETE SOLUTIONS
| A+ GRADED |100% CORRECT!! NEWEST EXAM!!
An SEC-registered investment adviser is NOT required to
disclose "material" disciplinary information in its Form ADV
Part 1 after:
A. 5 years
B. 10 years
C. 12 years
D. 15 years - Answers-B. 10 years
Which event would be deemed an assignment of an
investment advisory contract?
A. An adviser hires a new CEO to replace its current
retiring CEO.
B. An adviser is purchased by an unaffiliated adviser.
C. Any public offering of an adviser's stock.
,2|Page
D. An adviser organized as a corporation changes its
structure to a partnership. - Answers-B. An adviser is
purchased by an unaffiliated adviser
The Investment Advisers Act of 1940 requires that written
investment advisory agreements must address:
A. proxy voting.
B. assignment of the contract.
C. brokerage arrangements.
D. fees. - Answers-B. assignment of the contract.
If an investment adviser becomes ineligible for SEC
registration, which document must be filed to terminate its
registration?
A. Form DRP
B. Form ADV-W
C. Form ADV Part 2A
D. Form U5 - Answers-B. Form ADV-W
,3|Page
During an examination of XYZ Investment Advisers, the
SEC discovers that two of Adviser's portfolio managers
have been engaged in frontrunning client accounts.
Neither Compliance nor Senior Management had any
knowledge of the scheme. If Adviser can show to the
SEC's satisfaction that it had developed and enforced
procedures reasonably designed to prevent frontrunning,
Adviser will be able to claim that, despite the violation,
Adviser has met its duty to:
A. assist the SEC.
B. maintain required books and records.
C. eliminate internal control deficiencies.
D. supervise. - Answers-D. supervise.
SEC-registered advisers that have proxy voting authority
for clients must do which TWO of the following? (Choose
two.)
A. Adopt procedures to ensure proxies are voted in the
best interest of clients.
B. Disclose to clients information about the firm's proxy
policies and procedures on Form ADV Part 2.
, 4|Page
C. Create a proxy voting committee to address conflict
situations.
D. Provide information to clients on how their proxies were
voted. - Answers-A. Adopt procedures to ensure proxies
are voted in the best interest of clients.
D. Provide information to clients on how their proxies were
voted.
In which THREE circumstances is an adviser deemed to
have custody under the SEC Custody Rule? (Choose
three.)
A. The investment adviser is mistakenly sent a check
payable to the client and returns it to the sender within five
business days of receipt.
B. The investment adviser deducts advisory fees from the
client's account with the client's prior written consent.
C. The investment adviser takes possession of a check
drawn by the client that is payable to a third party.
D. The investment adviser acts as one of three or more
trustees in regards to an advisory client's account. -
Answers-A. The investment adviser is mistakenly sent a
check payable to the client and returns it to the sender
within five business days of receipt.
