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Series 65 Uniform Investment Adviser Law Exam 2024 – 2025 Series 65 Uniform Investment Advisor Law Unit 1 Exam Questions and Answers | 100% Pass Guaranteed | Graded A+ |$14.99
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Series 65 Uniform Investment Adviser Law Exam 2024 – 2025 Series 65 Uniform Investment Advisor Law Unit 1 Exam Questions and Answers | 100% Pass Guaranteed | Graded A+ |
Series 65 Uniform Investment Adviser Law Exam 2024 – 2025 Series 65 Uniform Investment Advisor Law Unit 1 Exam Questions and Answers | 100% Pass Guaranteed | Graded A+ |
Series 65 Uniform Investment Adviser Law
University of Georgia
Exam 2024 – 2025 SeriesGeorgia
Athens, 65 Uniform Investment
Advisor Law Unit 1 Exam Questions and
Series |65
Answers (Uniform
100% Investment
Pass Adviser| Law
Guaranteed Exam)A+ |
Graded
Series 65 Exam
Course Title and Number: Series 65 Exam
Exam Title: Series 65 Exam
Exam Date: Exam 2024- 2025
Instructor: [Insert Instructor’s Name]
Student Name: [Insert Student’s Name]
Student ID: [Insert Student ID]
Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
4. Ensure all answers are final before submitting the exam.
5. Please answer each question below and click Submit when you
have completed the Exam.
6. This test has a time limit, The test will save and submit
automatically when the time expires
7. This is Exam which will assess your knowledge on the course
Learning Resources.
Good Luck!
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,Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
The Uniform Securities Act excludes certain persons
from the definition of an investment adviser if their
performance of advisory services is solely incidental to
their professions. This exclusion would apply to all of
the following EXCEPT.
A. An Accountant
B. An Economist
C. An Electrical Engineer
D. A College Professor teaching a course on economics.
- Answer>> Answer: B. As long as the activity is
incidental to the professional practice and no separate
fee for the advice is charged, the act specifically
excludes L.A.T.E. and not economists.
Which of the following would be excluded from the
definition of investment adviser under the Uniform
Securities Act?
A. The publisher of a weekly magazine, sold on
newsstands that contains at least 5 stock
recommendations per issue.
B. A broker-dealer making a separate charge for
investment advice
C. A civil damages attorney who advertises that she is
available to assist clients in suggesting appropriate
investments for their successful claim
D. A finance teacher at a local community college who
offers weekend seminars on comprehensive financial
planning at a very reasonable price. - Answer>> Answer:
A. Publishers of general circulation newspapers and
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,magazines are excluded from the definition of
investment adviser, especially because the entire
publication is devoted to impersonal investment advice.
An important key is here is that it is published
regularly, not upon market events. A broker dealer
loses its exclusion the moment it offers advice for a
separate charge, as does an attorney who holds herself
out as offering investment advice. Normally a teacher is
excluded, but not when charging for advice as would
appear to be the case here. On this examination, the
term comprehensive (or total) financial planning always
includes securities advice.
Exemptions - Answer>> When it comes to exemptions
state and federal laws have established rules whereby
a person, although meeting the definition of an
investment adviser, is not required to register as such.
That person is considered to be exempt from
registration. Because the state and federal exemptions
are not as similar as the exclusions, let's take them
separately starting with the exemptions available under
the Investment Advisers Act of 1940 (federal law).
Federal Law Exemptions - Answer>> 1. Intrastate
Advisors
2. Advisers to Insurance Companies
Intrastate Advisers (Only Within One State) - Answer>>
Investment advisers, whose clients are residents of the
state in which the adviser has its principal office and
only place of business and who do not give advice
dealing with securities listed on any national exchange
(NYSE) are exempt. For example, an adviser would be
exempted under this provision if all of its clients were
Georgia residents, its only place of business were in
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, Georgia and it did not give advice on securities listed
on any national exchange.
Advisers to Insurance Companies - Answer>> Advisers
whose only clients are insurance companies are
exempt.
State Law Exemptions - Answer>> The Uniform Securities
Act exempts from registration certain persons who,
although they fall within the definition of an investment
adviser, do not have to register as such in the state.
Investment advisers exempt from registration with the
state Administrator are those who have no place of
business in the state but are registered in another state
(provided their only clients in the state are)
1. Broker-dealers registered under the act;
2. Other investment advisers;
3. Institutional investors;
4. Existing clients who are not residents but are
temporarily in the state;
5. Limited to 5 or fewer clients, other than those listed
above, resident in the state during the preceding 12
months (called the de minims exemption); or
6. Any others the Administrator exempts by rule or
order.
Definition: Institution - Answer>> The term institution
would include banks, trust companies, saving and loan
associations, insurance companies, investment
companies (e.g. mutual funds), employee benefit plans
with assets of not less than 1 million, and governmental
agencies or instrumentalities.
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