Series 63 practice questionmediumMaterial Change and IAR Status
If an IAR changes his place of business from State R to State S, what must occur under the USA?
- ANo registration change is required
- BThe IAR must update registration and be registered in State S✓ Correct answer
- CNotification to the Administrator of State R is sufficient
- DThe adviser, not the IAR, must update the registration
Explanation
Why B — The IAR must update registration and be registered in State S
An IAR must be registered in every state where he or she has a place of business. Relocating requires new registration in State S (USA Section 404).
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