Investment Advisor Representative Prep with all Correct
& 100% Verified Answers |Guaranteed to Pass
When must an IAR register with a state? ✔Correct Answer-If the IAR has a place of business in
the state (regardless of number of clients).
Do IARs of federal covered advisers register federally? ✔Correct Answer-No — IARs never
register federally, only at the state level.
Does a partner of an IA firm who provides advice need to register as an IAR? ✔Correct
Answer-Yes, usually automatically registered with the state
If an IA is registered in State A, does an IAR partner working in State A also need to register
there? ✔Correct Answer-Yes — all individuals acting as IARs must register in any state where
they have a place of business.
Is registration required for IARs who do not solicit or communicate with the public? ✔Correct
Answer-No, not unless they supervise those who do.
An IAR of a federal covered adviser lives in State B but only serves institutional clients in that
state. Must they register? ✔Correct Answer-Yes — since they have a place of business in the
state.
What form is used to register an IAR? ✔Correct Answer-Form U4, submitted through the
CRD/IARD system.
If an IAR of a federal covered adviser has no place of business in State A but has 7 clients there,
must they register in State A? ✔Correct Answer-No — unless they have a place of business in
the state, they do not register.
Can an IAR be registered with more than one IA at a time? ✔Correct Answer-Only if both
firms are affiliated and the state Administrator allows it.
Are IARs responsible for recordkeeping? ✔Correct Answer-Generally, no — recordkeeping is
the IA firm's responsibility, not the individual IAR.
Must IARs maintain records of communications with clients? ✔Correct Answer-Usually no,
but IARs must cooperate with IA firm's recordkeeping and regulatory requests.
IAR works for a state registered IA, where should the IAR register? ✔Correct Answer-The state
in which that maintain a place of business and any other state in which his clients exceed 5.
& 100% Verified Answers |Guaranteed to Pass
When must an IAR register with a state? ✔Correct Answer-If the IAR has a place of business in
the state (regardless of number of clients).
Do IARs of federal covered advisers register federally? ✔Correct Answer-No — IARs never
register federally, only at the state level.
Does a partner of an IA firm who provides advice need to register as an IAR? ✔Correct
Answer-Yes, usually automatically registered with the state
If an IA is registered in State A, does an IAR partner working in State A also need to register
there? ✔Correct Answer-Yes — all individuals acting as IARs must register in any state where
they have a place of business.
Is registration required for IARs who do not solicit or communicate with the public? ✔Correct
Answer-No, not unless they supervise those who do.
An IAR of a federal covered adviser lives in State B but only serves institutional clients in that
state. Must they register? ✔Correct Answer-Yes — since they have a place of business in the
state.
What form is used to register an IAR? ✔Correct Answer-Form U4, submitted through the
CRD/IARD system.
If an IAR of a federal covered adviser has no place of business in State A but has 7 clients there,
must they register in State A? ✔Correct Answer-No — unless they have a place of business in
the state, they do not register.
Can an IAR be registered with more than one IA at a time? ✔Correct Answer-Only if both
firms are affiliated and the state Administrator allows it.
Are IARs responsible for recordkeeping? ✔Correct Answer-Generally, no — recordkeeping is
the IA firm's responsibility, not the individual IAR.
Must IARs maintain records of communications with clients? ✔Correct Answer-Usually no,
but IARs must cooperate with IA firm's recordkeeping and regulatory requests.
IAR works for a state registered IA, where should the IAR register? ✔Correct Answer-The state
in which that maintain a place of business and any other state in which his clients exceed 5.
