Series 63 practice questionmediumAssets Under Management Thresholds
At what AUM threshold must a state-registered investment adviser apply for SEC registration as a federal covered adviser?
- A$100 million
- B$110 million✓ Correct answer
- C$120 million
- D$150 million
Explanation
Why B — $110 million
The USA and federal law require mandatory SEC registration at $110 million AUM; between $100-$110 million it's optional, but $110 million is the trigger (Section 202(a)(11)).
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Regulation of Investment Advisers questions
- Which of the following is TRUE regarding dual registration of investment advisers under the USA?
- Under the USA, which of the following federal covered advisers would NOT be required to submit a notice filing in State…
- ABC Advisors has a single office in State Q, provides advice only to residents of State Q, and manages $90 million in…
- Under the USA, which adviser would NOT be considered a federal covered adviser?
- An IA is registered in State T and has no office in State S. It provides advice to 3 non-institutional clients in State…
- ABC Advisers merges with DEF Advisers to create a new entity, GHI Advisers, mid-year. Under the USA, what registration…
- A federal covered adviser with clients in State F has not solicited or conducted business with the general public in…
- An investment adviser with no office in State Y manages accounts for 2 banks and 4 retail clients in State Y. Under the…
