Under the rules of the Investment Advisers Act of 1940, trading in a client's account would be considered excessive if:
I. the investment adviser receives a commission from trading.
II. trading was conducted without considering the client's investment objectives.
III. trading is inappropriate in view of a client's resources.
A) I, II and III.
B) II and III.
C) I only.
D) II only.
Answer: B) II and III.