Series 63 practice questionmediumIAR Registration/Place of Business
A state-registered investment adviser has an IAR working remotely from a state where the adviser has no office but where the IAR regularly meets clients. Is the IAR required to register in that state?
- AYes, because the IAR has a place of business in that state✓ Correct answer
- BNo, because the adviser has no office in the state
- CNo, registration is required only in the adviser's home state
- DYes, but only if the IAR provides advice
Explanation
Why A — Yes, because the IAR has a place of business in that state
The IAR must register in every state where they have a place of business, regardless of the adviser's office locations (USA Section 404(a)).
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