Series 63 practice questioneasybalance sheet delivery
An investment adviser with custody of client funds must deliver a balance sheet to clients how often under the USA?
- AAnnually✓ Correct answer
- BQuarterly
- CMonthly
- DOnly upon request
Explanation
Why A — Annually
Investment advisers with custody must deliver an audited balance sheet to each client at least annually (USA Rule 206(4)-2). Quarterly and monthly delivery is not required, nor is it only upon request.
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