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Welcome to the 2024 Written Examination of Investment Advisers registered with the State of Minnesota. In addition to on-site and virtual examinations, registered investment advisers may be required to complete a written examination in electronic format.
Our expectation is that all investment adviser firms are diligently working to comply with applicable rules and regulations. In that regard, part of our mission is to protect and assist consumers and businesses.
Examination Instructions
The examination is entirely in electronic format, which requires an on-line submission. Please do not mail or email any submissions to the Commerce Department (Department). Any submissions mailed or emailed will not be accepted. If you would like to review and print the questions prior to starting the exam, please click in the link on the left side of this page titled “Sample 2024 Investment Adviser Written Examination.”
Read all instructions provided for each question. You will be able to save answers in the middle of completing the examination and return to finish later. There are a total of 63 questions and should take approximately 60 minutes to complete. Certain questions within the examination require you to upload a document. In most cases, these documents will have to be prepared and may require additional time to complete the exam. Questions that require a document to be uploaded will include a text box with a "Browse..." button. For each such question, please attach a document in the excel (.xls or .xlsx) or word (.doc or .docx) format that corresponds to the question asked.
Be sure to provide answers for all requested fields. Please note some responses may require additional information to be entered. After you submit your examination, your confirmation email will include a pdf of your completed exam.
If you have any questions, please do not hesitate to contact the Department at: Securities.IA.Examinations.COMM@state.mn.us