Series 63 practice questionmediumFederal Covered Adviser IARs – Registration
Which statement about registration of IARs associated with federal covered advisers is CORRECT according to the USA?
- AIARs must register in every state where they have clients
- BIARs must register only in states where they have a place of business✓ Correct answer
- CIARs need only register with the SEC
- DIARs are not subject to any state registration requirements
Explanation
Why B — IARs must register only in states where they have a place of business
IARs of federal covered advisers must register in states where they have a place of business, not merely where they have clients, per USA Section 404(a).
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