IACCP MASTER QUESTION BANK NEWEST 2025

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IACCP MASTER QUESTION BANK NEWEST 2025|

COMPLETE QUESTIONS AND CORRECT DETAILED

ANSWERS (VERIFIED ANSWERS) ALREADY GRADED

A+|| BRAND NEW!!

An SEC-registered investment adviser is NOT required to disclose

"material" disciplinary information in its Form ADV Part 1 after:

• 5 years
• 10 years
• 12 years
• 15 years - Correct Answer - B. 10 years

Which event would be deemed an assignment of an investment advisory contract?

• An adviser hires a new CEO to replace its current retiring CEO.
• An adviser is purchased by an unaffiliated adviser.
• Any public offering of an adviser's stock.
• An adviser organized as a corporation changes its structure to a

partnership. - Correct Answer - B. An adviser is purchased by an unaffiliated adviser

The Investment Advisers Act of 1940 requires that written investment

advisory agreements must address:

• proxy voting.
• assignment of the contract. 1 / 4

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• brokerage arrangements.
• fees. - Correct Answer - B. assignment of the contract.

If an investment adviser becomes ineligible for SEC registration, which document must be filed to terminate its registration?

• Form DRP
• Form ADV-W
• Form ADV Part 2A
• Form U5 - Correct Answer - B. Form ADV-W

During an examination of XYZ Investment Advisers, the SEC discovers that two of Adviser's portfolio managers have been engaged in frontrunning client accounts. Neither Compliance nor Senior Management had any knowledge of the scheme. If Adviser can show to the SEC's satisfaction that it had developed and enforced procedures reasonably designed to prevent frontrunning, Adviser will be able to

claim that, despite the violation, Adviser has met its duty to:

• assist the SEC.
• maintain required books and records.
• eliminate internal control deficiencies.
• supervise. - Correct Answer - D. supervise.

SEC-registered advisers that have proxy voting authority for clients must do which TWO of the following? (Choose two.)

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• Adopt procedures to ensure proxies are voted in the best interest of

clients.

• Disclose to clients information about the firm's proxy policies and

procedures on Form ADV Part 2.

• Create a proxy voting committee to address conflict situations.
• Provide information to clients on how their proxies were voted. -

Correct Answer - A. Adopt procedures to ensure proxies are voted in the best interest of clients.

• Provide information to clients on how their proxies were voted.

Under the SEC Investment Adviser Codes of Ethics Rule, access persons must obtain pre-approval for which TWO types of personal securities transactions? (Choose two.)

• Participation in private placements.
• Trades in securities held in clients' accounts.
• Acquisition of securities in IPOs.
• Mutual fund purchases if the adviser acts as adviser for the fund. -

Correct Answer - A. Participation in private placements.

• Acquisition of securities in IPOs.

What does the SEC Investment Adviser Codes of Ethics Rule require access persons to submit?

• An annual holdings report that must be current within 45 days of

submission.

• Quarterly transaction reports within 10 days of quarter end. 3 / 4

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• A certification that the employee does not hold any private

placements.

• A request for pre-approval of all brokers used. - Correct Answer - A.

An annual holdings report that must be current within 45 days of submission.

As defined in Form ADV, all positions would be considered an advisory

affiliate EXCEPT the investment advisory firm's:

• Head Trader
• Chief Financial Officer
• Systems Administrator
• Investment Adviser Representative - Correct Answer - C. Systems

Administrator

Pursuant to the Securities Exchange Act of 1934, Section 13(f) securities that must be reported on Form 13F generally include each of the

following EXCEPT:

• Exchange-traded securities
• Mutual funds
• Exchange-traded funds
• NASDAQ-quoted securities - Correct Answer - B. Mutual funds

Under the Advertising Rule, which TWO are required when an adviser provides a list of profitable past-specific recommendations? The list

must: (Choose two.)

• be posted on the adviser's Web site.
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