Lucky the Banker mascotLTB
Series 63: Regulation of Investment Advisers
Series 63 practice questioneasySuccessor Firms

Which statement is TRUE regarding registration of a successor investment adviser firm under the Uniform Securities Act?

  1. AA successor firm may file for registration without paying an additional fee for the remainder of the year.✓ Correct answer
  2. BA successor firm must pay a new registration fee immediately upon formation.
  3. CA successor must wait until the next calendar year to register.
  4. DSuccessor firms cannot use simplified registration procedures.
Explanation

Why AA successor firm may file for registration without paying an additional fee for the remainder of the year.

Per the USA, a successor firm may file for registration without paying an additional fee for the unexpired portion of the year (Section 406). Options B, C, and D are incorrect.

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