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Which of the Following Scenarios Does Not Meet the Definition

Question 182

Multiple Choice

Which of the following scenarios does not meet the definition of "custody" under NASAA Model Rules?


A) An investment adviser is mistakenly sent a client's securities, but returns them to the sender within three business days of receipt.
B) An investment adviser has general power of attorney for a client and is authorized to withdraw client funds or securities that are on deposit with a registered broker-dealer upon the investment adviser's request.
C) An investment adviser receives a check from a client that is written to a mutual fund and forwards the check to the mutual fund within three business days of receipt.
D) An investment adviser keeps a client's securities in its safety deposit box.

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