Answer:
C. required to be registered in both State Y and State Z
Step-by-step explanation:
The investment advisory representative is the professional responsible for guiding clients in their investment decisions. He must use his technical and practical knowledge to assess each client's objectives, expectations and needs in order to develop and present investment strategies appropriate to the client's profile. This professional must be registered in your state of operation, ie if the investment advisory representative is in Florida, he must be registered in Florida. In the case of the investment advisory representative, shown in the question, his acting state is in state Y, but he will also need to act in state Z. Although the distance between the two states is small, the representative must be registered in states Y and Z.