Mastery exam review (100% verified with correct answers)

Exempt securities must re-establish their exemption annually in order to be sold lawfully in the state. correct answers remember this A material fact is deliberately omitted in a sales presentation because it was publicly known 4 years ago = PROHIBITED correct answers remember A registration statement for new issues of securities under the USA is effective for more than one year after its effective date: correct answers if the issuer or broker/dealer offering the securities has an unsold allotment covering those instances where an investment adviser might act an as agent for both sides of a trade involving his advisory clients. In order to perform in this manner, the USA correct answers prohibits the IA from making the recommendation to BOTH sides. 16. State securities Administrators can require: correct answers agents to post a surety bond if they have discretion over client funds and securities. Uniform Securities Act imposes certain recordkeeping requirements upon registered broker/dealers. Among the records that must be retained are all of these EXCEPT correct answers unsolicited testimonials from customers. able to split commission with principal under same roof correct answers remember that A person applying for an initial registration as an agent might be asked to provide all of the following correct answers -proposed method of doing business. -a consent to service of process. -citizenship information. NOT REQUIRED; fingerprints According to the Uniform Securities Act, agents may NOT: correct answers (1) act as custodian of a customer's funds and securities ** (2) share commissions from the purchase or sale of securities with any agent not registered as an agent for the same broker/dealer, or for a broker/dealer under direct or indirect common control. (3) share in the profits and losses of an account without written consent of the client and authorization from the employing broker/dealer. (4) mply that a conservative investment strategy will guarantee a specific investment result will be achieved. could result in a revocation or suspension of an agent's license as a result of a violation of NASAA's Statement of Policy on Dishonest or Unethical Business Practices of Broker/Dealers and Agents? correct answers (1) Hypothecating a customer's securities in a margin account without written consent from the customer. (2) Charging unreasonable fees or commissions for brokerage execution services