Series 63 practice questionmediumCompensation for Advice
A person provides investment recommendations exclusively through a free website, but earns revenue via advertising. Under the USA, this person is:
- AAn investment adviser who must register
- BExcluded as a publisher if recommendations are general and not tailored✓ Correct answer
- CA federal covered adviser
- DAn agent of a broker-dealer
Explanation
Why B — Excluded as a publisher if recommendations are general and not tailored
If advice is general, not tailored, and compensation is from advertising, the publisher exclusion applies (Section 401(c)).
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