Under the Investment Advisers Act of 1940, which of the following statements are TRUE regarding advisory contracts?
I Advisory fees cannot be based upon capital gains in the account
II Advisory fees for clients with at least $1,000,000 of assets under management; or $2,000,000 net worth; can have a fee that is partly based upon capital gains
III Advisory contracts must be filed with the SEC if they allow for $1,200 or more of prepaid advisory fees, 6 or more months in advance of services rendered
IV Advisory contracts cannot contain provisions that violate Federal law
A. I and II only
B. III and IV only
C. I, II and IV
D. I, II, III, IV