All of the following statements about an adviser's recordkeeping responsibilities under the Uniform Securities Act are TRUE, EXCEPT:

1. ARecords may be maintained electronically if they cannot be altered and are readily accessible
2. BThe Administrator may require the production of all records at any time
3. CRecords must be preserved for three years in a readily accessible location✓ Correct answer
4. DAdvisers exempt from registration may still be required to provide records during an investigation

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