File Info
| Exam | Uniform Securities State Law Examination |
| Number | Series 63 |
| File Name | FINRA.Series 63.Test4Prep.2019-02-22.251q.tqb |
| Size | 1 MB |
| Posted | Feb 22, 2019 |
| Download | FINRA.Series 63.Test4Prep.2019-02-22.251q.tqb |
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Demo Questions
Question 1
The Uniform Securities Act (USA) is
- a body of laws governing the purchase and sale of securities within a single state.
- a set of guidelines for individual states to follow when formulating their own securities’ laws.
- a group of laws requiring state-issued securities, such as municipal bonds, to be registered with.
- federal legislation that requires all states to adopt the same registration requirements for all.
Correct answer: B
Explanation:
The Uniform Securities Act (USA) provides a model for states to follow when formulating their own securities laws. It does not, itself, contain any laws. The Uniform Securities Act (USA) provides a model for states to follow when formulating their own securities laws. It does not, itself, contain any laws.
Question 2
Once you have passed the Series 63 examination, which entity must then approve your application to sell securities?
- FINRA
- NASAA
- SEC
- the state administrator
Correct answer: D
Explanation:
Once you have passed the Series 63 exam, it is the state administrator who can approve or deny your registration. NASAA developed the Uniform Securities Agent State Law Examination and FINRA administers it. The SEC is not a party to the state registration process. Once you have passed the Series 63 exam, it is the state administrator who can approve or deny your registration. NASAA developed the Uniform Securities Agent State Law Examination and FINRA administers it. The SEC is not a party to the state registration process.
Question 3
Which of the following securities would not necessarily be exempt from state registration?
- a stock listed on the Tokyo Stock Exchange
- a bond guaranteed by the Canadian government
- a bond issued by another state’s employees’ credit union
- a stock listed as a NASDAQ National Market Issue.
Correct answer: A
Explanation:
Stocks listed on the Tokyo Stock Exchange would not necessarily be exempt from state registration. Stocks that are registered with the SEC, such as NASDAQ National Market Issue stocks, securities issued or guaranteed by the Canadian government, and securities issued or guaranteed by banks or credit unions are all exempt. Stocks listed on the Tokyo Stock Exchange would not necessarily be exempt from state registration. Stocks that are registered with the SEC, such as NASDAQ National Market Issue stocks, securities issued or guaranteed by the Canadian government, and securities issued or guaranteed by banks or credit unions are all exempt.
