Document Preparation & Filing Flashcards
7 cards from real Series 66 – Uniform Combined State Law Exam practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Document Preparation & Filing flashcards as text
A registered agent leaves a broker-dealer. Within how many days must the firm file Form U5 with the CRD system?
Answer: 30 days
Form U5 must be filed within 30 days of the agent's termination.
Which part of Form ADV is the brochure that an investment adviser must deliver to clients?
Answer: Part 2
Part 2 (the narrative brochure and supplements) is delivered to clients, while Part 1 is filed only with regulators.
An investment adviser representative learns that a customer complaint now meets disclosure criteria. What must the firm do about Form U4?
Answer: Amend the Form U4 promptly, generally within 30 days
Form U4 must be amended promptly, generally within 30 days of learning of a reportable event.
Which system is used to file investment adviser registrations and notice filings electronically?
Answer: IARD
The Investment Adviser Registration Depository (IARD) processes adviser filings and fees.
A firm withdraws its registration as a broker-dealer. Which form is filed?
Answer: Form BDW
Form BDW is the withdrawal form for broker-dealers.
Under the NASAA model rule, how long must a state-registered adviser keep most required books and records?
Answer: 5 years
Records are kept five years from the end of the fiscal year of the last entry, the first two years in the principal office.
What is the effect of failing to renew an agent's registration by December 31?
Answer: Registration lapses and the agent may not transact business
Registrations expire December 31 and unrenewed agents cannot lawfully act until reinstated.
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