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IACCP (QE) 2025 BRAND NEW ACTUAL
EXAM WITH ANSWERS.
ABC Advisers has a website, www.ABCAdvisers.com. The
website includes the language: "ABC Advisers, a Registered
Investment Adviser, provides financial planning and asset
management services. The President of ABC Advisers, Fred
Johnson, has 25 years of investment management experience.
For a free consultation, please call ABC Advisers, RIA, at 800-
555-0000."
Which is a TRUE statement? ABC Advisers:
A. cannot use the initials "RIA."
B. cannot advertise via a website.
C. must specify if it is SEC- or state-registered.
D. cannot offer free services. - correct answers -A. cannot use the
initials "RIA."
Which THREE situations require an SEC-registered adviser to
disclose in Form ADV Part 2 any financial condition that might
impair its ability to meet contractual commitments to clients?
(Choose three.)
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A. Adviser has discretionary authority
B. Adviser requires prepayment of more than $1,200 in fees per
client, six months or more in advance
C. Adviser has custody of client funds or securities
D. Adviser has custody of client assets and has received a
qualified opinion from its public accountant - correct answers -A.
Adviser has discretionary authority
B. Adviser requires prepayment of more than $1,200 in fees per
client, six months or more in advance
C. Adviser has custody of client funds or securities
ABSENT an exemption, Regulation S-P PROHIBITS the sharing
of nonpublic personal information with any non-affiliated third
party unless the firm performs which TWO actions? (Choose two.)
A. Documents its privacy notice on its website in a clear and
conspicuous manner.
B. Provides an opt-out notice for consumers or customers.
C. Provides notice of its privacy policy.
D. Provides consumers with a privacy compliance checklist. -
correct answers -B. Provides an opt-out notice for consumers or
customers.
C. Provides notice of its privacy policy
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What are advisers required to report to the Financial Crimes
Enforcement Division (FinCEN)?
A. A potential client's refusal to provide personally identifying
information.
B. Frequent transactions that are not consistent with client's
objectives or net worth.
C. Each instance in which clients request a copy of their anti-
money laundering file.
D. One cash transaction OR two or more related cash
transactions totaling more than $10,000. - correct answers -D.
One cash transaction OR two or more related cash transactions
totaling more than $10,000.
What are the basic requirements for addressing violations in
policies and procedures under the Investment Advisers Act and
Investment Company Act Compliance Programs Rules?
A. Prevent, detect, correct
B. Collect, inspect, affect
C. Infer, deter, procure
D. Design, align, refine - correct answers -A. Prevent, detect,
correct
IACCP (QE) 2025 BRAND NEW ACTUAL
EXAM WITH ANSWERS.
ABC Advisers has a website, www.ABCAdvisers.com. The
website includes the language: "ABC Advisers, a Registered
Investment Adviser, provides financial planning and asset
management services. The President of ABC Advisers, Fred
Johnson, has 25 years of investment management experience.
For a free consultation, please call ABC Advisers, RIA, at 800-
555-0000."
Which is a TRUE statement? ABC Advisers:
A. cannot use the initials "RIA."
B. cannot advertise via a website.
C. must specify if it is SEC- or state-registered.
D. cannot offer free services. - correct answers -A. cannot use the
initials "RIA."
Which THREE situations require an SEC-registered adviser to
disclose in Form ADV Part 2 any financial condition that might
impair its ability to meet contractual commitments to clients?
(Choose three.)
, Page | 2
A. Adviser has discretionary authority
B. Adviser requires prepayment of more than $1,200 in fees per
client, six months or more in advance
C. Adviser has custody of client funds or securities
D. Adviser has custody of client assets and has received a
qualified opinion from its public accountant - correct answers -A.
Adviser has discretionary authority
B. Adviser requires prepayment of more than $1,200 in fees per
client, six months or more in advance
C. Adviser has custody of client funds or securities
ABSENT an exemption, Regulation S-P PROHIBITS the sharing
of nonpublic personal information with any non-affiliated third
party unless the firm performs which TWO actions? (Choose two.)
A. Documents its privacy notice on its website in a clear and
conspicuous manner.
B. Provides an opt-out notice for consumers or customers.
C. Provides notice of its privacy policy.
D. Provides consumers with a privacy compliance checklist. -
correct answers -B. Provides an opt-out notice for consumers or
customers.
C. Provides notice of its privacy policy
, Page | 3
What are advisers required to report to the Financial Crimes
Enforcement Division (FinCEN)?
A. A potential client's refusal to provide personally identifying
information.
B. Frequent transactions that are not consistent with client's
objectives or net worth.
C. Each instance in which clients request a copy of their anti-
money laundering file.
D. One cash transaction OR two or more related cash
transactions totaling more than $10,000. - correct answers -D.
One cash transaction OR two or more related cash transactions
totaling more than $10,000.
What are the basic requirements for addressing violations in
policies and procedures under the Investment Advisers Act and
Investment Company Act Compliance Programs Rules?
A. Prevent, detect, correct
B. Collect, inspect, affect
C. Infer, deter, procure
D. Design, align, refine - correct answers -A. Prevent, detect,
correct
