Series 63 practice questioneasybooks and records
Which of the following is TRUE regarding the location of required records for a state-registered investment adviser?
- ARecords may be stored electronically if they are easily accessible and can be reproduced✓ Correct answer
- BRecords must be kept only at the principal place of business in paper format
- CRecords can be destroyed after 3 years
- DRecords must be kept with the state Securities Administrator
Explanation
Why A — Records may be stored electronically if they are easily accessible and can be reproduced
Records may be kept electronically if accessible and reproducible (Rule 204-2). Paper-only and state Administrator storage are not required. Destruction after 3 years is too short under the USA.
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