Under the Investment Advisers Act of 1940, which of the following is TRUE about the use of the term "investment counsel" by investment advisers?
A) Advisers may use the term only if their principal business is acting as an investment adviser and a substantial part of their business consists of providing continuous advice based on a client's individual needs.
B) Advisers may use the term without restriction as long as they are registered.
C) Advisers may use the term only if they are attorneys.
D) The use of the term is prohibited under any circumstances.
Answer: A) Advisers may use the term only if their principal business is acting as an investment adviser and a substantial part of their business consists of providing continuous advice based on a client's individual needs.