Series 63 practice questionmediumbooks and records
Under the USA, which of the following is TRUE regarding the Administrator's inspection rights of an investment adviser's records?
- AThe Administrator may inspect records at any time, with or without notice✓ Correct answer
- BThe Administrator may inspect only upon written request
- CThe Administrator must provide at least 30 days' notice
- DThe Administrator may only inspect records related to complaints
Explanation
Why A — The Administrator may inspect records at any time, with or without notice
The USA allows the Administrator to inspect records at any time, with or without notice (Section 411). Notice or complaint-limited inspections are not required.
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