SIE Exam Practice Question 741

Question: 741

An investment adviser will be deemed to have custody of client assets if which of the following apply?

A. The advisor has possession of client funds or securities and does not return them to the client within 3 days.

B. The advisor is authorized or permitted to withdraw client funds or securities.

C. The adviser has legal ownership or access to client funds or securities.

D. All of the above are correct.