HARD STC SERIES 66 QUESTIONS
QUESTIONS AND ANSWERS GRADED
A+ 100% VERIFIED.
Which of the following would most likely be registered with the state
Administrator?
A) A municipal revenue bond
B) A mutual fund
C) An NYSE-listed company's common stock
D) A distribution of an interest in a mining or real estate venture - CORRECT
ANSWER - D
According to the Uniform Securities Act, which of the following statements is
NOT TRUE concerning a private placement offering?
A) The offer may not be made to more than 10 retail investors in the state during
any 12-month period.
B) The offer may not be made to more than 35 retail investors in the state during
any 12-month period.
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,C) The offer may be made to an unlimited number of institutional investors during
any 12-month period.
D) Commissions may not be paid if the buyers are non-institutional investors. -
CORRECT ANSWER - B
Under the Uniform Securities Act, which of the following statements is/are TRUE
regarding the registration of securities?
I. A security is considered registered for one year from the effective date of its
registration statement
II. Once the registration statement is declared effective by the Administrator, the
security is considered to be registered as long as the issuer files quarterly and
annual financial statements
III. If the registration statement for a security is declared effective by the
Administrator of one state, it is also immediately effective in any state in which an
identical registration statement has been filed
IV. The filing of a registration statement may be done by a person other than the
issuer
A) II only
B) I and IV only
C) I, III, and IV only
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,D) II, III, and IV only - CORRECT ANSWER - B
A mutual fund is planning to issue 10 million Class B shares. Five hundred
thousand shares will be offered in the state of Rhode Island. Under the Uniform
Securities Act, the Administrator of Rhode Island will require the fund to:
I. Register the shares in Rhode Island
II. Include a prospectus with its registration
III. Pay a filing fee
IV. Sign a Consent to Service of Process
A) I and II only
B) III and IV only
C) I, II, and III only
D) I, II, III, and IV - CORRECT ANSWER - B
Registration of a security in a state is not required for ALL of the following
reasons, EXCEPT:
A) The security has been registered with the Securities and Exchange Commission
under the Securities Act of 1933
B) The security is offered in an exempt transaction
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, C) The security is exempt
D) The instrument does not meet the definition of a security - CORRECT
ANSWER - A
Which of the following securities or transactions are subject to the registration
provisions of the Uniform Securities Act (USA)?
A) Unsolicited private placement transactions
B) Unsolicited non-issuer transactions
C) Transactions with financial institutions
D) Public offerings of securities - CORRECT ANSWER - D
Under the Uniform Securities Act, an institutional investor:
A) Has more than $2.1 million of net worth
B) Has a minimum of $1 million under management with an investment adviser
C) May be designated as such by rule or order of the Administrator
D) Is any financial institution or trust - CORRECT ANSWER - C
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QUESTIONS AND ANSWERS GRADED
A+ 100% VERIFIED.
Which of the following would most likely be registered with the state
Administrator?
A) A municipal revenue bond
B) A mutual fund
C) An NYSE-listed company's common stock
D) A distribution of an interest in a mining or real estate venture - CORRECT
ANSWER - D
According to the Uniform Securities Act, which of the following statements is
NOT TRUE concerning a private placement offering?
A) The offer may not be made to more than 10 retail investors in the state during
any 12-month period.
B) The offer may not be made to more than 35 retail investors in the state during
any 12-month period.
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,C) The offer may be made to an unlimited number of institutional investors during
any 12-month period.
D) Commissions may not be paid if the buyers are non-institutional investors. -
CORRECT ANSWER - B
Under the Uniform Securities Act, which of the following statements is/are TRUE
regarding the registration of securities?
I. A security is considered registered for one year from the effective date of its
registration statement
II. Once the registration statement is declared effective by the Administrator, the
security is considered to be registered as long as the issuer files quarterly and
annual financial statements
III. If the registration statement for a security is declared effective by the
Administrator of one state, it is also immediately effective in any state in which an
identical registration statement has been filed
IV. The filing of a registration statement may be done by a person other than the
issuer
A) II only
B) I and IV only
C) I, III, and IV only
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,D) II, III, and IV only - CORRECT ANSWER - B
A mutual fund is planning to issue 10 million Class B shares. Five hundred
thousand shares will be offered in the state of Rhode Island. Under the Uniform
Securities Act, the Administrator of Rhode Island will require the fund to:
I. Register the shares in Rhode Island
II. Include a prospectus with its registration
III. Pay a filing fee
IV. Sign a Consent to Service of Process
A) I and II only
B) III and IV only
C) I, II, and III only
D) I, II, III, and IV - CORRECT ANSWER - B
Registration of a security in a state is not required for ALL of the following
reasons, EXCEPT:
A) The security has been registered with the Securities and Exchange Commission
under the Securities Act of 1933
B) The security is offered in an exempt transaction
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, C) The security is exempt
D) The instrument does not meet the definition of a security - CORRECT
ANSWER - A
Which of the following securities or transactions are subject to the registration
provisions of the Uniform Securities Act (USA)?
A) Unsolicited private placement transactions
B) Unsolicited non-issuer transactions
C) Transactions with financial institutions
D) Public offerings of securities - CORRECT ANSWER - D
Under the Uniform Securities Act, an institutional investor:
A) Has more than $2.1 million of net worth
B) Has a minimum of $1 million under management with an investment adviser
C) May be designated as such by rule or order of the Administrator
D) Is any financial institution or trust - CORRECT ANSWER - C
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