Series 63 practice questionmediumPension consultant exemption vs AUM minimum
All of the following advisers could qualify for the pension consultant exemption EXCEPT:
- AAn adviser consulting on $300 million in pension assets
- BAn adviser consulting on $250 million in pension assets for plans in several states
- CAn adviser consulting on $100 million in pension assets✓ Correct answer
- DAn adviser consulting only to governmental plans with $220 million in assets
Explanation
Why C — An adviser consulting on $100 million in pension assets
SEC Rule 203A-2(a) sets the $200 million threshold for the exemption. (C) fails that test. A, B, and D meet or exceed the minimum and qualify.
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