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.

One of the many reasons why Cortes and Pizarro were able to defeat the Aztecs and the Incas was because " d. The Europeans carried deadly diseases which decimated the populations of both the Aztecs and the Incas and thus undermined their political and military order," since disease actually killed more than weapons.

Explanation: