All of the following statements pertaining to investment advisers (ias) possessing the funds of clients are true except: [a] possession of funds by a custodian that meets certain qualifications is acceptable.[b] at least annually, clients must receive a statement which includes details related to the funds possessed by the firm.[c] accounts that contain the funds of clients must be specific to that purpose.[d] immediate notification must be given to the client as to where the firm will maintain the client funds.

The correct option is B

Explanation:

Options A, C and D are true except for option B which talks about annual statements. As long as the customer continues to carry out certain activities on his or her account, it is mandatory for statements to be sent on a monthly basis. However, in a case where there is no activity for a long period, then statement are sent to the customer once in three months.

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

88 because 4 plus 4 equals 8. 40 plus 40 equals 80. 80 plus 8 equals 88