1.

An Investment Adviser MUST register with the SEC under which of the following conditions?

I When there is no state registration available in that state

II As soon as the adviser manages more than $100 million of assets

III As soon as the adviser manages more than $110 million of assets

IV That has an investment company as a client

	a.	I and II only
	b.	I and III only
c.		I, II, and IV
d.		I, III, and IV only

2.

In which step of the financial planning process would the financial planner identify strengths and weaknesses that will help or hinder the achievement of the clients goals?

a.

Step 1 Establish the relationship

b.

Step 2 Gather information

c.

Step 3 Analyze the data

D. Step 4 Develop the plan

3. An investment adviser suggests you buy a specific mutual fund through her company. Which of the following licenses may be relevant to this offer?

I Series 6

II Series 7

III Series 22

IV Series 66

		A. I only
	B.	I and IV only
		C. I, II, and IV only
D.		I, II, III, and IV

4.

Which of the following is the logical second step in the budgeting process?

		A. Decide how much is to be saved or invested.
	B.	List all the categories and amounts of fixed and discretionary expenditures.
	C.	Estimate all of the income and income sources for the budget period.
		D. Eliminate all discretionary expenditures.