Exam (elaborations)
Series 63 Exam Questions and Answers (Laest Update 2024)
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Series 63 Exam Questions and Answers (Laest Update 2024)
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Series 63 Exam Questions and Answers(Laest Update 2024)
agent - Correct Answer ✅ An individual who represents a
broker/dealer or an issuer when selling or trying to sell
securities to the investing public. This individual is considered
an _____ whether he or she actually receives or simply solicits
orders. Also known as "registered representatives."
Two types of agents - Correct Answer ✅ An individual who
represents a broker dealer in effecting or attempting to effect
securities transactions (an entrepreneur selling stock in his
own company to raise capital
An employee is not an agent - Correct Answer ✅ selling to
non-resident customers(30 day limit)
selling to new residents (60 day limit)
Not an agent working as an issuers - Correct Answer ✅
Individuals who represent issuers of certain exempt securities
( US gov
Individuals who represent issuers in exempt transactions(CFO
selling bonds to institutional investors
,Series 63 Exam Questions and Answers
(Laest Update 2024)
Individuals representing issuers selling only to qualified
purchasers or selling private placements (under 33 act )
If you see a question about the issuer of a certificate of
deposit, voting trust certificate or collateral trust certificate,
look for the terms - Correct Answer ✅ depositor or
manager in the answer choices
If you are asked who is the issuer of a certificate of interest or
participation in oil, gas or mining titles or leases - Correct
Answer ✅ the answer is that there is no issuer
RR must file an application to register in the state in which a
client is now a resident within - Correct Answer ✅ 10
business days of the later of: a transaction with the client in
the new state or the discovery by the rr of the clients change
in residence
Agent application - Correct Answer ✅ the applicants
qualifications and business history
any injunctions or administrative orders involving security
,Series 63 Exam Questions and Answers
(Laest Update 2024)
any convictions for misdemeanors involving securities
any felony convictions
the applicants financial condition and history
issuer - Correct Answer ✅ According to the Uniform
Securities Act, any person who issues or proposes to issue
any security. When a corporation or municipality raises
additional capital through an offering of securities, that
corporation or municipality is the issuer of those securities.
An issuer transaction also is called a primary transaction.
historical performance - Correct Answer ✅ may be shown
to investors as long as proper disclosure is provided
indicating that it DOES NOT predict future results.
New resident exception to apply - Correct Answer ✅ The rr
must not be ineligible to register in the new state, The rr
must be registered with a registered securities association
and at least one state
The RRs broker dealer must be registered in the new state
, Series 63 Exam Questions and Answers
(Laest Update 2024)
If an agent leaves one broker dealer and becomes employed
by another broker dealer - Correct Answer ✅ all three
parties have to notify the administrator
In an agent terminates his employement with a broker dealer
without going to a new dealer - Correct Answer ✅ both
have to notify administrator
A minor is not considered a - Correct Answer ✅ person
broker/dealer - Correct Answer ✅ any person engaged in
the business of effecting transactions in securities for the
account of others or for his own account.
Who is not a broker dealer - Correct Answer ✅ a bank,
savings institution, or trust company, insurance companies
an issuer,
an agent
a person that has no place of business in the state and deals
only with broker dealers, institutional investors or the issue of
the security involved in the transaction
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