RegistrationQuestion 9 of 100
Which individual at a state-registered investment advisory firm would be considered an investment adviser representative?
a.A receptionist who schedules client meetings
b.A portfolio manager who selects securities for client accounts and supervises two junior analysts
c.An accounts-payable clerk who processes vendor invoices
d.A building maintenance technician employed by the firm
Explanation
An investment adviser representative is a supervised person who makes recommendations or renders advice, manages accounts, determines what advice to give, solicits advisory services, or supervises those who do. Individuals whose functions are purely clerical or ministerial are excluded, which covers the receptionist, the clerk, and the maintenance worker. The portfolio manager both advises and supervises, so registration is required.
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