Series 63 practice questioneasyRegistration Triggers
A state investment adviser with $120 million in AUM must:
- ARegister with the SEC as a federal covered adviser✓ Correct answer
- BRemain state-registered only
- CRegister as a broker-dealer
- DRegister as an agent
Explanation
Why A — Register with the SEC as a federal covered adviser
Once an adviser has $110 million or more in AUM, it must register federally (USA Section 202(a)(11)). State registration is not permitted above this threshold.
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