Laws & RegulationsCâu 77 / 110
Under the Investment Advisers Act of 1940, an investment adviser owes clients which standard of care?
a.A fiduciary duty to act in the client's best interest
b.A mere suitability standard with no loyalty obligation
c.No duty beyond executing trades promptly
d.A duty only to disclose commissions
Giải thích
The Investment Advisers Act of 1940 imposes a fiduciary duty on investment advisers, requiring them to act in their clients' best interests and to place client interests ahead of their own. This includes duties of loyalty and care and full disclosure of material conflicts. It is a higher standard than the suitability obligation historically applied to broker-dealers.
Trích dẫn luật: Investment Advisers Act of 1940Luyện miễn phí toàn bộ 110 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which of the following best distinguishes the fiduciary standard from a suitability standard?
- Under the Investment Advisers Act of 1940, which three elements define a person as an investment adviser (the 'three-prong test')?
- Generally, an investment adviser managing $110 million or more in assets registers with which regulator?
- Under the Uniform Securities Act, the state official who administers securities law is known as the:
- Under the Uniform Securities Act, an 'investment adviser representative' (IAR) is best described as:
- An investment adviser that has custody of client funds or securities is generally required to do which of the following?
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Đội Ngũ Biên Tập PrepPass · Đối chiếu với NASAA Series 65 Investment Adviser Law Exam · Quy trình kiểm tra