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← 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 A — A 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.

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