IARs may do some or all of the following except...
What is place discretionary trades for all account types
State-registered RIAs offering both wrap and non-wrap fee services require which documents to be submitted to IAPD?
What is Wrap Fee Brochure, ADV Part 2A, ADV Part 2Bs
True or False: DOL-PTE rules apply to IRA to IRA transfers
True
A "______" Person are all employees, directors, officers, partners, members, who can see nonpublic information regarding clients purchases or sales of securities, involved in making recommendations to clients, have ability to see portfolio holdings of clients, communicate regularly with clients.
What is Access Person
How many days can a firm hold onto a physical check of a client for before they are deemed to have custody?
What is 3 days
Which of the following Professional Designation does qualify as proper IAR licensure?
What is CPA
What documents are required to be published to an SEC-registered firm's website?
Form CRS
If not recommending rollovers to clients, what are RIAs limited to providing?
General Education
True or False: Access Persons are required to submit their holding reports to the firm
True
Is a transfer between a husband's account to a joint account under the husband & wife considered a third party or first party transfer?
Third Party
A Supervised Person is NOT one of the following:
What is all of the above
True or False: Form CRS must be provided to Retirement Plan Consulting clients?
False
Which of the following are not part of the 6 requirements for the new DOL PTE rule?
What is... Signature from the client acknowledging the rollover
How many days within becoming an Access Person should the Access Person submit their holding report to the company?
10 days
What two variables constitutes a third party transfer?
If the accounts are not under the same name or registration
"__________" standard guidelines is when no Supervised Person may enter an order to purchase or sell any security prior to a transaction of the same security being implemented for an Advisory Client on the same day.
What is Front Running
Form CRS stands for what?
Client Relationship Summary
True or False: Access Persons can trade into the same security that they recommend to a client
True... must trade after though
What is a large trader filing called and at what amount in a calendar month/day triggers it?
13H Filing
20 million shares or $200 million worth of securities in a month
2 million shares or $20 million worth of securities in a day
What is the max gift limit for non-BD affiliated RIAs?
What is generally $1,200 but who knows
What year did the Form CRS become required?
What type of asset should always be in the lowest share class and avoid 12b-1 fees?
What is mutual funds
A "_______" fee is payable only if the net profits in the client's account exceeds the previous year mark
What is Performance Fee
Who and how often is required to sign/receive the WSP manual?
CCO and all employees. Everyone should sign annually.