IACCP WEEK 3 EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS
Assignment
Transfer or hypothecation of an investment advisory contract
Investment Advisor
Person/firm advising on securities for a fee
Control
Power to influence a company's management or policies
Investment Supervisory Services
Continuous advice tailored to individual client needs
National Securities Exchange
Exchange registered under the Securities Exchange Act of 1934
Person
Natural person or company
Not Securities
Excludes Commodity Futures and Fixed Annuities
Business Development Company
Registered company under the Investment Company Act of 1940
Underwriter
Determines offering price, buys, and sells securities
Foreign Private Advisor
Non-US advisor with specific client and asset criteria
, Commodity Pool Operator (CPO)
Operates a commodity pool and solicits funds
Commodity Pool
Combines funds for trading futures contracts or options
Commodity Trading Advisor (CTA)
Provides advice on trading futures contracts and swaps
Swap
Contract exchanging financial instruments
Swap Dealer
Counterparty in a swap agreement for a fee
Swap Execution Facility
Platform for executing swap transactions
Penalties
Tiered fines for violations, including fraud and deceit
Advisory Affiliates
Officers, directors, or controlling persons of an advisor
AUM
Assets Under Management
Private Fund Adviser Exemption
Exemption criteria for advising solely private funds
Foreign Private Fund Exemption
Exemption criteria for non-US private fund advisers
Venture Capital Adviser Exemption
DETAILED VERIFIED ANSWERS
Assignment
Transfer or hypothecation of an investment advisory contract
Investment Advisor
Person/firm advising on securities for a fee
Control
Power to influence a company's management or policies
Investment Supervisory Services
Continuous advice tailored to individual client needs
National Securities Exchange
Exchange registered under the Securities Exchange Act of 1934
Person
Natural person or company
Not Securities
Excludes Commodity Futures and Fixed Annuities
Business Development Company
Registered company under the Investment Company Act of 1940
Underwriter
Determines offering price, buys, and sells securities
Foreign Private Advisor
Non-US advisor with specific client and asset criteria
, Commodity Pool Operator (CPO)
Operates a commodity pool and solicits funds
Commodity Pool
Combines funds for trading futures contracts or options
Commodity Trading Advisor (CTA)
Provides advice on trading futures contracts and swaps
Swap
Contract exchanging financial instruments
Swap Dealer
Counterparty in a swap agreement for a fee
Swap Execution Facility
Platform for executing swap transactions
Penalties
Tiered fines for violations, including fraud and deceit
Advisory Affiliates
Officers, directors, or controlling persons of an advisor
AUM
Assets Under Management
Private Fund Adviser Exemption
Exemption criteria for advising solely private funds
Foreign Private Fund Exemption
Exemption criteria for non-US private fund advisers
Venture Capital Adviser Exemption
