Series 63 practice questioneasyForm ADV Part 2 delivery timing
Under current Form ADV Part 2 instructions, when must an adviser generally deliver annual brochure information to an existing client?
- AWithin 120 days after fiscal year-end, deliver an updated brochure containing material changes or a summary of material changes with an offer of the updated brochure✓ Correct answer
- BEvery month, whether or not information changed
- COnly after the SEC orders delivery
- DNever after the advisory contract is signed
Explanation
Why A — Within 120 days after fiscal year-end, deliver an updated brochure containing material changes or a summary of material changes with an offer of the updated brochure
Within 120 days after fiscal year-end, an adviser generally must deliver either an updated brochure that includes a summary of material changes or a summary of material changes accompanied by an offer to provide the updated brochure. If there are no material changes, annual delivery may not be required.
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