Question

Under current law, who of the following would be required to register as an investment adviser in a state?

A) A person who has directed advice relating to securities to 6 individuals in that state within the past 12 months, even though he has no place of business within the state
B) A person who deals exclusively with broker-dealers in that state, but maintains no place of business within the boundaries of the state
C) A person who limits advisory services exclusively to issuers of securities in that state while maintaining no office therein
D) A person whose home office is in the state and who manages less than $90 million in assets

Answer 1

Answer: A. A person who has directed advice relating to securities to 6 individuals in that state within the past 12 months, even though he has no place of business within the state.

C) A person who limits advisory services exclusively to issuers of securities in that state while maintaining no office therein

D) A person whose home office is in the state and who manages less than $90 million in assets

Step-by-step explanation:

Investment advisers are the individuals who makes recommendations on investment or helps in conducting security analysis in exchange for a fee.

It should be noted that under current law, the people who will be required to register as an investment adviser in a state must have given investment advise to people in the state within the past 12 months and also have their home office in that particular state.

Based on the information, the correct answers are A, C and D.