Series 63 - Practice Exam Questions With Co
An cexisting ccustomer cof ca cbroker-dealer cregistered cin cState cA cis cvacationing cin cState cB. cCan
ccustomer? c- cCORRECT cANS✔✔The cbroker-dealer cmay csolicit cthe ccustomer cin cState cB cwitho
If ca cbroker-dealer ceffects ca ctransaction cin ca cstate c(unless can cexemption cis cavailable), cthe cbro
cin cthat cstate. cOne cof cthe cexemptions cavailable, chowever, ccovers cthe cinstance cwhere can cexis
cbroker-dealer cis cvacationing cin canother cstate. cThat ccustomer cmay cbe ccontacted cwhile con cvac
cwithout cthe cbroker-dealer cbeing crequired cto cregister cin cthat cstate.
, It cis cprohibited cfor can cinvestment cadviser cto cbe ccompensated conly con cthe cbasis cof c________
cfor cthe cadviser cto creceive ca cpercentage cof call cassets cunder cmanagement c(even cif cthis cvalue
ca cfixed cfee carrangement cto cbe cestablished. c- cCORRECT cANS✔✔capital cgains
Securities cthat care csold cthrough ca cprivate cplacement c_________. c- cCORRECT cANS✔✔are cun
Securities csold cthrough ca cprivate cplacement care cunregistered cand care can cexempt ctransaction.
cprivate cplacement cis cdefined cas can coffer cto cno cmore cthan c10 cpersons cin ca c12 cmonth cperiod
The cAdministrator cis cNOT cempowered cto c__________. c- cCORRECT cANS✔✔Issue cinjunctions
The cAdministrator ccan cissue csubpoenas ceven cto cpersons coutside cthe cAdministrator's cstate. cIt
cAdministrator cto cconduct cinvestigations cto cdetermine cif cany csecurities claws chave cbeen cbroken
cnot cpossible, chowever, cfor cthe cAdministrator cto cissue can cinjunction cagainst cthe calleged cviolat
conly cpetition cthe cappropriate ccourt cto cissue can cinjunction.
Under cthe cUniform cSecurities cAct, cthe cterm c'sale' cor c'sell' cincludes cwhich cof cthe cfollowing? cI. c
cconsideration c
II. cA cstock cdividend cgiven cto cstockholders cin clieu cof ca ccash cdividend c
cIII. cAn cexchange cof cstock cin ca cmerger ctransaction cwhich cis capproved cby cstockholders c- cCOR
To cbe cconsidered cto cbe ca csale, cthere cmust cbe csome cconsideration cor cexchange cof cvalue. cSa
cpledges cof csecurities cas ccollateral cfor cloans, cstock cdividends, ccorporate cmergers capproved cby
cof ccorporate cassets cin cconsideration cof cstock cof canother ccorporation, cor cacts cincidental cto cjud
creorganizations cin cwhich csecurities care cissued cin cexchange cfor cother coutstanding csecurities.
Which cof cthe cfollowing cactions ccould cconstitute cfraud? c
cI. cOmission cof cany cmaterial cfact cII. cOmission cof cany cknown cfact c
III. cA cdeceptive cstatement cmade cin cconnection cwith cthe csale cof ca cgovernment cbond c- cCORRE
The cintentional comission cof cany cmaterial cinformation cis cfraud. cEven cthough cgovernment cbonds
care cnot cexempt cfrom cthe canti-fraud cprovisions cand cdeceptive cstatements care calways cconside
cneed cnot cbe cdisclosed.
If ca cbroker-dealer creceives can cunsolicited ccustomer corder cto cbuy ca csecurity cin cthe csecondary
cCORRECT cANS✔✔Exempt ctransaction cwhether cthe csecurity cinvolved cis cexempt cor cnon-exem
Unsolicited ccustomer corders cin cthe csecondary cmarket cby cor cthrough ca cbroker-dealer care ccons
ctransactions cunder cthe cAct cwhether cthe csecurities cinvolved care cexempt cor cnon-exempt. cThe c
cthe ccustomer cacknowledge cthat cthe csale cwas cunsolicited cin cwriting.
Which ctype cof csecurities cis cnot cexempt cunder cthe cUniform cSecurities cAct? c- cCORRECT cANS✔
cinterests
Under cthe cUniform cSecurities cAct, cU.S. cgovernment cbonds, csecurities cissued cby can cexchange
ccompanies, cand csecurities cissued cby ccharitable corganizations care cexempt. cLimited cpartnership
csecurity cunder cthe cAct cand care cnon-exempt.
Under cthe cUniform cSecurities cAct, cregistration cof ca csecurity cunder cthe cSecurities cAct cof c1933
cANS✔✔State cregistration cby cnotice cfiling cor ccoordination cmay cbe cavailable.
To cbe cregistered cin ca cstate cby cnotice cfiling cor cby ccoordination, ca cfederal cregistration cstateme
csecurity cunder cthe cSecurities cAct cof c1933. cSuch cregistration cdoes cnot cexempt cthe csecurity cfr
cevery cfederal cregistered csecurity ca cfederal ccovered csecurity. cAny csecurity cmay cbe cregistered
cwould chave cto cbe cregistered cby cqualification conly cif cfiling cor ccoordination cwere cnot cavailable.
An cexisting ccustomer cof ca cbroker-dealer cregistered cin cState cA cis cvacationing cin cState cB. cCan
ccustomer? c- cCORRECT cANS✔✔The cbroker-dealer cmay csolicit cthe ccustomer cin cState cB cwitho
If ca cbroker-dealer ceffects ca ctransaction cin ca cstate c(unless can cexemption cis cavailable), cthe cbro
cin cthat cstate. cOne cof cthe cexemptions cavailable, chowever, ccovers cthe cinstance cwhere can cexis
cbroker-dealer cis cvacationing cin canother cstate. cThat ccustomer cmay cbe ccontacted cwhile con cvac
cwithout cthe cbroker-dealer cbeing crequired cto cregister cin cthat cstate.
, It cis cprohibited cfor can cinvestment cadviser cto cbe ccompensated conly con cthe cbasis cof c________
cfor cthe cadviser cto creceive ca cpercentage cof call cassets cunder cmanagement c(even cif cthis cvalue
ca cfixed cfee carrangement cto cbe cestablished. c- cCORRECT cANS✔✔capital cgains
Securities cthat care csold cthrough ca cprivate cplacement c_________. c- cCORRECT cANS✔✔are cun
Securities csold cthrough ca cprivate cplacement care cunregistered cand care can cexempt ctransaction.
cprivate cplacement cis cdefined cas can coffer cto cno cmore cthan c10 cpersons cin ca c12 cmonth cperiod
The cAdministrator cis cNOT cempowered cto c__________. c- cCORRECT cANS✔✔Issue cinjunctions
The cAdministrator ccan cissue csubpoenas ceven cto cpersons coutside cthe cAdministrator's cstate. cIt
cAdministrator cto cconduct cinvestigations cto cdetermine cif cany csecurities claws chave cbeen cbroken
cnot cpossible, chowever, cfor cthe cAdministrator cto cissue can cinjunction cagainst cthe calleged cviolat
conly cpetition cthe cappropriate ccourt cto cissue can cinjunction.
Under cthe cUniform cSecurities cAct, cthe cterm c'sale' cor c'sell' cincludes cwhich cof cthe cfollowing? cI. c
cconsideration c
II. cA cstock cdividend cgiven cto cstockholders cin clieu cof ca ccash cdividend c
cIII. cAn cexchange cof cstock cin ca cmerger ctransaction cwhich cis capproved cby cstockholders c- cCOR
To cbe cconsidered cto cbe ca csale, cthere cmust cbe csome cconsideration cor cexchange cof cvalue. cSa
cpledges cof csecurities cas ccollateral cfor cloans, cstock cdividends, ccorporate cmergers capproved cby
cof ccorporate cassets cin cconsideration cof cstock cof canother ccorporation, cor cacts cincidental cto cjud
creorganizations cin cwhich csecurities care cissued cin cexchange cfor cother coutstanding csecurities.
Which cof cthe cfollowing cactions ccould cconstitute cfraud? c
cI. cOmission cof cany cmaterial cfact cII. cOmission cof cany cknown cfact c
III. cA cdeceptive cstatement cmade cin cconnection cwith cthe csale cof ca cgovernment cbond c- cCORRE
The cintentional comission cof cany cmaterial cinformation cis cfraud. cEven cthough cgovernment cbonds
care cnot cexempt cfrom cthe canti-fraud cprovisions cand cdeceptive cstatements care calways cconside
cneed cnot cbe cdisclosed.
If ca cbroker-dealer creceives can cunsolicited ccustomer corder cto cbuy ca csecurity cin cthe csecondary
cCORRECT cANS✔✔Exempt ctransaction cwhether cthe csecurity cinvolved cis cexempt cor cnon-exem
Unsolicited ccustomer corders cin cthe csecondary cmarket cby cor cthrough ca cbroker-dealer care ccons
ctransactions cunder cthe cAct cwhether cthe csecurities cinvolved care cexempt cor cnon-exempt. cThe c
cthe ccustomer cacknowledge cthat cthe csale cwas cunsolicited cin cwriting.
Which ctype cof csecurities cis cnot cexempt cunder cthe cUniform cSecurities cAct? c- cCORRECT cANS✔
cinterests
Under cthe cUniform cSecurities cAct, cU.S. cgovernment cbonds, csecurities cissued cby can cexchange
ccompanies, cand csecurities cissued cby ccharitable corganizations care cexempt. cLimited cpartnership
csecurity cunder cthe cAct cand care cnon-exempt.
Under cthe cUniform cSecurities cAct, cregistration cof ca csecurity cunder cthe cSecurities cAct cof c1933
cANS✔✔State cregistration cby cnotice cfiling cor ccoordination cmay cbe cavailable.
To cbe cregistered cin ca cstate cby cnotice cfiling cor cby ccoordination, ca cfederal cregistration cstateme
csecurity cunder cthe cSecurities cAct cof c1933. cSuch cregistration cdoes cnot cexempt cthe csecurity cfr
cevery cfederal cregistered csecurity ca cfederal ccovered csecurity. cAny csecurity cmay cbe cregistered
cwould chave cto cbe cregistered cby cqualification conly cif cfiling cor ccoordination cwere cnot cavailable.
