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Which action is a prohibited practice under the Uniform Securities Act?Under the Uniform Securities Act, which of the following are prohibited actions of an investment adviser? The USA prohibits an investment adviser from acting as principal or agent in a transaction with an advisory client without approval prior to completion (settlement) of the trade.
Which of the following activities by an agent of a brokerWhich of the following activities by an agent of a broker-dealer would be unethical according to the Uniform Securities Act? Unless the client's spouse has authorization to execute transactions in the account(s), executing orders on such authority is unethical.
Who is excluded from the definition of a brokerThe Uniform Securities Act (USA) explicitly names three persons that are consistently excluded from the definition of a broker-dealer: Agents. Issuers. Banks, savings institutions, and trust companies.
In which two of the following situations would an investment adviser be required to file the appropriate audited financial statements with a state administrator?An investment adviser must provide an audited balance sheet to a client in two instances: (1) if the adviser has custody of client funds and securities or (2) the adviser receives prepaid fees of more than $500, six months or more in advance.
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