This organization works with Adam Smith to implement, monitor and review firewalls and other safeguard devices available to prevent developing attempts of cyber-attacks.
Loffler
100
If an RIA is deemed to have custody, what type of audit must be completed by an independent CPA?
surprise/asset audit
100
On what Minnesota lake was water skiing invented in 1922?
Lake Pepin
100
What is it called when an advisor makes a mistake when placing a trade for a client?
Trade Error
100
The only two social networking sites that employees are allowed to use for business purposes.
LinkedIn and Twitter
200
This is required on all computers, smartphone, tablets and other electronic devices.
Password
200
True or False: If an advisor is a trustee of a client’s trust, the advisory firm where the advisor is employed is NOT deemed to have custody of the trust assets.
False
200
How many lakes does Minnesota really have (greater than 10 acres)?
A. 12,752
B. 14,112
C. 15,291
D. 17,007
C. 15,291
200
This document summarizes our services to be provided to our clients.
Wealth Management Agreement
200
The duty that requires us to act in the best interest of our clients.
Fiduciary
300
If an advisor receives an email from a client requesting money to be transferred to a third party account, what must the advisor do before proceeding with the transfer?
call the client to verify
300
If an advisor has a client’s web access login credentials for the client’s account and withdrawals can be made on that account via the web, does the advisor have custody?
Yes
300
Which Minnesota State Fair Food contains the most calories?
A. cheese curds
B. deep fried candy bar
C. funnel cake
D. fresh french fries
B. deep fried candy bar
300
The document that every registered investment adviser must deliver to each prospective client which describes the background and business practices of the adviser.
ADV part 2/Brochure
300
The business continuity and disaster recovery plan states that we would go to this particular place in the event of a business disruption such as a fire while we are physically in the office.
park across the street
400
In the event of a security breach in which private sensitive client information is obtained by an unauthorized person, who should be notified first?
CCO
400
An advisor that inadvertently receives client securities or funds will not be deemed to have custody if the advisor returns the securities or funds to the client within how many business days?
3
400
Which of Minnesota’s 67 state parks is the most visited?
A. Gooseberry Falls
B. Itasca
C. Fort Snelling
D. Interstate
C. Fort Snelling
400
The document that summarizes our client’s goals, objectives, investment restrictions, risk profile, among other things.
Investment Policy Statement
400
The Act that requires SEC registered investment advisers to maintain policies and procedures to enhance compliance with federal securities laws.
Investment Advisers Act of 1940
500
To protect our clients and firm, Adam Smith ensures that this is done to all laptops.
Encrypt
500
The receipt of client funds or securities should be recorded on this.
log
500
Which President gave one of his most famous speeches at the Minnesota State Fair: “Speak Softly and Carry a Big Stick"?
Teddy Roosevelt
500
This analysis is done on a quarterly basis in order to compare current client actual portfolio allocations to client’s target allocations.
IPS Drift
500
This was created to prevent unlawful trading and promote ethical conduct by employees.