VIP Exclusive
IAR Investment Adviser Representative VIP Practice Exam
IAR — This exam mirrors the NASAA Series 65 Uniform Investment Adviser Law Examination, administered by FINRA on behalf of NASAA; the real exam consists of 130 questions (120 scored) with a 180-minute time limit and a passing score of 72% (86 correct out of 120 scored questions), covering economics, investment vehicles, client recommendations, and securities laws/regulations.
31
Questions
180m
Time Limit
72.00%
To Pass
Question 1 of 31👑 VIP
An investment adviser representative (IAR) is meeting with a new client who is 58 years old, has $900,000 in liquid assets, earns $180,000 annually, and plans to retire in seven years. The client tells the IAR, 'I want to grow my portfolio aggressively — I can handle big swings.' After reviewing the client's full financial picture, the IAR determines that a conservative allocation would better serve the client's stated retirement goals. Which of the following BEST describes the IAR's obligation in this situation?
Questions 2–31 and full explanations are VIP-exclusive.