ORION SERIES 65 TEST 2 EXAM
QUESTIONS AND ANSWERS (VERIFIED
AND UPDATED)
Under the Uniform Securities Act, all of the following persons may provide investment advice
incidental to their normal business without requiring registration as an investment adviser
EXCEPT a(n): - ANS economist.
Wrap fee accounts would tend to be most suitable for investors who follow a: - ANS tactical
approach to investing.
Kapco Investment Advisers currently has $138 million in assets under management and has
offices in Colorado and Utah. Kapco's only clients in Utah are 2 insurance companies domiciled
in that state. Kapco has no office in New Mexico but does service the accounts of 3 middle-class
individuals. Kapco recently has opened an advisory account for a pension plan for a corporation
located in Montana. Under the Uniform Securities Act, Kapco would have to register with: -
ANS the SEC.
An investment adviser is preparing an advertisement. Which of the following would be
acceptable? - ANS Offering to provide his investment recommendations for the past 12
months. Promoting his system of charts and formulas while mentioning their limitations and
difficulties.
An investment adviser with custody of customer funds and securities must send the customer a
statement of account activity no less frequently than: - ANS quarterly.
@2026/2027 ALLRIGHTS RESERVED.
QUESTIONS AND ANSWERS (VERIFIED
AND UPDATED)
Under the Uniform Securities Act, all of the following persons may provide investment advice
incidental to their normal business without requiring registration as an investment adviser
EXCEPT a(n): - ANS economist.
Wrap fee accounts would tend to be most suitable for investors who follow a: - ANS tactical
approach to investing.
Kapco Investment Advisers currently has $138 million in assets under management and has
offices in Colorado and Utah. Kapco's only clients in Utah are 2 insurance companies domiciled
in that state. Kapco has no office in New Mexico but does service the accounts of 3 middle-class
individuals. Kapco recently has opened an advisory account for a pension plan for a corporation
located in Montana. Under the Uniform Securities Act, Kapco would have to register with: -
ANS the SEC.
An investment adviser is preparing an advertisement. Which of the following would be
acceptable? - ANS Offering to provide his investment recommendations for the past 12
months. Promoting his system of charts and formulas while mentioning their limitations and
difficulties.
An investment adviser with custody of customer funds and securities must send the customer a
statement of account activity no less frequently than: - ANS quarterly.
@2026/2027 ALLRIGHTS RESERVED.
