Series 65 Exam Questions with correct answers
If a prospective client wanted to know what type of investment strategies
are employed by an investment advisor, that information would be found
in the adviser's
A. Form ADV Part 1A
B. Form ADV Part 1B
C. Form ADV Part 2A
C. Form ADV Part 2B Correct Answer-C
If an IA registers with the state in November, when does the registration
come up for renewal? Correct Answer-December 31st of that same year
Which of the following would an Adminstrator consider to be a
substantial prepayment of fees?
A. $500 covering the next 6 months
B. $800 covering the entire contract year
C. $800 covering the next calendar quarter
D. $5000 covering the next month Correct Answer-B. (NASAA state
law defines a substantial prepayment of fees to be more than $500, 6 or
more months in advance)
Mammon Money Managers(MMM) has its principal office in State A
and is also registered in States B,C, and D. MMM exercises discretion in
, client accounts. As a result, MMM would have to meet the net worth or
bonding requirements of
A. the SEC
B. State A
C. the state with the highest requirement
D. each state Correct Answer-B. (only state where the principal office is)
Under the Investment Advisers Act of 1940, all of the following are true
regarding adviser recordkeeping EXCEPT
A. The IA must keep records of transactions made for its own account as
well as the account of investment adviser representatives to lessen the
likelihood of scalping
B. computer-generated records may be stored in that format
C. client account records must be maintained, including a list of
recommendations made
D. records must be maintained for a period of 2 years from the end of
the fiscal year in which the last entry was made Correct Answer-D. (the
records must be kept for 5 years)
An investment adviser registered in State G is obligated to maintain
certain books and records as specified by the Uniform Securities Act.
Which of the following statements regarding adviser recordkeeping is
NOT true?
If a prospective client wanted to know what type of investment strategies
are employed by an investment advisor, that information would be found
in the adviser's
A. Form ADV Part 1A
B. Form ADV Part 1B
C. Form ADV Part 2A
C. Form ADV Part 2B Correct Answer-C
If an IA registers with the state in November, when does the registration
come up for renewal? Correct Answer-December 31st of that same year
Which of the following would an Adminstrator consider to be a
substantial prepayment of fees?
A. $500 covering the next 6 months
B. $800 covering the entire contract year
C. $800 covering the next calendar quarter
D. $5000 covering the next month Correct Answer-B. (NASAA state
law defines a substantial prepayment of fees to be more than $500, 6 or
more months in advance)
Mammon Money Managers(MMM) has its principal office in State A
and is also registered in States B,C, and D. MMM exercises discretion in
, client accounts. As a result, MMM would have to meet the net worth or
bonding requirements of
A. the SEC
B. State A
C. the state with the highest requirement
D. each state Correct Answer-B. (only state where the principal office is)
Under the Investment Advisers Act of 1940, all of the following are true
regarding adviser recordkeeping EXCEPT
A. The IA must keep records of transactions made for its own account as
well as the account of investment adviser representatives to lessen the
likelihood of scalping
B. computer-generated records may be stored in that format
C. client account records must be maintained, including a list of
recommendations made
D. records must be maintained for a period of 2 years from the end of
the fiscal year in which the last entry was made Correct Answer-D. (the
records must be kept for 5 years)
An investment adviser registered in State G is obligated to maintain
certain books and records as specified by the Uniform Securities Act.
Which of the following statements regarding adviser recordkeeping is
NOT true?
