FINRA Uniform Securities State Law Examination Series-63 Question # 72 Topic 8 Discussion

FINRA Uniform Securities State Law Examination Series-63 Question # 72 Topic 8 Discussion

Series-63 Exam Topic 8 Question 72 Discussion:
Question #: 72
Topic #: 8

In accordance with the National Securities Markets Improvement Act of 1996, which of the following is a federal covered adviser and, therefore, exempt from registering with the state Administrator?

I. An adviser who does business in 26 states.

II. An adviser who manages the portfolio of a mutual fund that is registered with the SEC.

III. An adviser with $35 million in assets under management


A.

All of the selections meet the qualifications of a federal covered adviser.


B.

I and II only


C.

II and III only


D.

I and III only


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