Series 63 Practice Test Questions with
Complete Solutions (Latest 2025)
The most common form of registration for securities that are
not federal covered. Coordination is concurrent registration
with the SEC and the state for public offerings. - Correct
Answers ✅Registration by Coordination
When maintaining custody of customer securities, broker-
dealers must keep them segregated from the firm's holdings
and may not make use of them. There is an exception if these
are securities pledged as collateral in a margin account, but,
unless the question specified that (and it probably won't on
your exam), assume these are fully paid for. - Correct
Answers ✅Commingling of customer and firm assets
1. Other BD
2. Bank
3. Savings Institution
4. Trust Companies
5. Insurance Companies
6. Investment Companies
7. Employee benefit plans with assets of at least $1mm -
Correct Answers ✅No place of business registration will
not be required to register if one of its clients was ?
none - Correct Answers ✅Examining of books requires how
much notice from an admin?
, Series 63 Practice Test Questions with
Complete Solutions (Latest 2025)
1. it is registered
2. is exempt
3. is a federal covered security - Correct Answers ✅It is
unlawful to offer or sell any security in a state unless:
All securities - Correct Answers ✅What falls under the
USA's anti-fraud provision apply to what and what only.
1. An advisory client must provide prior written consent
2. Adviser must make written disclosure to the advisory client
that it will broker dealer for, have potential conflicts of
interest
4. May collect commissions from both parties - Correct
Answers ✅Agency Cross Transaction acts as agent for both
parties and ?
May not recommend the transaction to both parties - Correct
Answers ✅In an agency cross transaction, an agent may
not do?
1. Anti-fraud provisions and
2. Civil liability - Correct Answers ✅An exempt security is
only exempt from the registration requirements, not ?
Complete Solutions (Latest 2025)
The most common form of registration for securities that are
not federal covered. Coordination is concurrent registration
with the SEC and the state for public offerings. - Correct
Answers ✅Registration by Coordination
When maintaining custody of customer securities, broker-
dealers must keep them segregated from the firm's holdings
and may not make use of them. There is an exception if these
are securities pledged as collateral in a margin account, but,
unless the question specified that (and it probably won't on
your exam), assume these are fully paid for. - Correct
Answers ✅Commingling of customer and firm assets
1. Other BD
2. Bank
3. Savings Institution
4. Trust Companies
5. Insurance Companies
6. Investment Companies
7. Employee benefit plans with assets of at least $1mm -
Correct Answers ✅No place of business registration will
not be required to register if one of its clients was ?
none - Correct Answers ✅Examining of books requires how
much notice from an admin?
, Series 63 Practice Test Questions with
Complete Solutions (Latest 2025)
1. it is registered
2. is exempt
3. is a federal covered security - Correct Answers ✅It is
unlawful to offer or sell any security in a state unless:
All securities - Correct Answers ✅What falls under the
USA's anti-fraud provision apply to what and what only.
1. An advisory client must provide prior written consent
2. Adviser must make written disclosure to the advisory client
that it will broker dealer for, have potential conflicts of
interest
4. May collect commissions from both parties - Correct
Answers ✅Agency Cross Transaction acts as agent for both
parties and ?
May not recommend the transaction to both parties - Correct
Answers ✅In an agency cross transaction, an agent may
not do?
1. Anti-fraud provisions and
2. Civil liability - Correct Answers ✅An exempt security is
only exempt from the registration requirements, not ?
