Series 63 practice questionmediumExclusions—Incidental Advice
Which of the following professionals is EXCLUDED from the IA definition under the USA if advice is strictly incidental?
- AAccountant providing investment advice as part of tax planning✓ Correct answer
- BAccountant opening separate advisory practice
- CAccountant charging a fee for securities recommendations only
- DAccountant advertising investment advice services to the public
Explanation
Why A — Accountant providing investment advice as part of tax planning
Incidental advice within the scope of the accountant's profession is excluded (Section 401(c)), unlike B, C, or D where it is no longer incidental.
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