According to the NASAA Model Rules, which of the following institutions would not be considered a qualified custodian?

• A.a broker-dealer that is registered with the state
• B.a bank that is insured by a private, state-sponsored insurance company
• C.a foreign financial institution
• D.a savings institution that is insured by the FDIC

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If an issuer registers securities with the state, how long can the documentation supplied in the registration statement for those securities be incorporated by reference only into a registration statement for future securities the issuer wants to offer for sale?

• A.one year
• B.two years
• C.five years
• D.seven years

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Investment Adviser Foo Lish, LLC has begun serving as a custodian of its clients' assets. Foo Lish, LLC
must now
I. file a new U-5 form with the Administrator.
II. meet higher net capital requirements than before.
III. file an updated Form ADV with the Administrator.
IV. pay a CPA to do an annual unannounced audit of the firm.

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

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Which of the following documents must a broker-dealer deliver on or prior to the confirmation due date to a client who is purchasing a security?

• A.a margin agreement if the purchase is being made on margin
• B.a final prospectus
• C.a preliminary prospectus
• D.a hypothecation agreement

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Which of the following entities are subject to post-registration provisions?
I. broker-dealers
II. agents
III. investment advisers
IV. investment adviser representatives

• A.I and II only
• B.I and III only
• C.II and IV only
• D.All of the entities are subject to post-registration provisions.

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