Question

1.

An Investment Adviser MUST register with the SEC under which ofthe following conditions?

I Whenthere is no state registration available in that state

II Assoon as the adviser manages more than $100 million of assets

III Assoon as the adviser manages more than $110 million of assets

IV Thathas an investment company as a client

	a.	I and II only
	b.	I and III only
c.		I, II, and IV
d.		I, III, and IV only

2.

In which step of the financial planning process would thefinancial planner identify strengths and weaknesses that will helpor hinder the achievement of the client’s goals?

a.

Step 1 – Establish the relationship

b.

Step 2 – Gather information

c.

Step 3 – Analyze the data

D. Step 4 – Develop the plan

3. An investment adviser suggests you buy a specific mutual fundthrough her company. Which of the following licenses may berelevant to this offer?

I Series6

II Series7

III Series22

IV Series66

		A. I only
	B.	I and IV only
		C. I, II, and IV only
D.		I, II, III, and IV

4.

Which of the following is the logical second step in thebudgeting process?

		A. Decide how much is to be saved or invested.
	B.	List all the categories and amounts of fixed and discretionaryexpenditures.
	C.	Estimate all of the income and income sources for the budgetperiod.
		D. Eliminate all discretionary expenditures.