Series 63 practice questionmediumannual updates
An IA's fiscal year ends December 31. By what date must the IA update its annual Form ADV under the USA?
- AMarch 31✓ Correct answer
- BApril 30
- CFebruary 28
- DJanuary 31
Explanation
Why A — March 31
Annual update is due within 90 days of fiscal year end; for a December 31 year-end, that's March 31 (Rule 203-1). April 30 exceeds 90 days. February 28 and January 31 are too soon.
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