Series 63 practice questioneasyannual updates
Under the USA, when must a state-registered investment adviser update its Form ADV?
- AWithin 90 days of the end of the adviser's fiscal year✓ Correct answer
- BWithin 30 days of any business change
- CAnnually, within 120 days of the end of the calendar year
- DOnly upon regulator's request
Explanation
Why A — Within 90 days of the end of the adviser's fiscal year
The annual Form ADV updating amendment is due within 90 days after the end of the adviser's fiscal year. Material changes may also require prompt interim amendments.
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 records must an investment adviser always keep under the USA?
- An investment adviser with custody of client funds must deliver a balance sheet to clients how often under the USA?
- Which of the following is TRUE regarding the location of required records for a state-registered investment adviser?
- Under the Uniform Securities Act, which of the following best describes the minimum period during which…
- A state-registered investment adviser accepts prepayment of fees greater than $500, six months or more in advance. What…
- Which statement best describes state regulatory authority over investment adviser representatives (IARs) of federal…
- A state-registered investment adviser ceases business. What generally happens to books and records that are still…
- Which of the following is NOT a federal covered adviser as defined by the USA?