Hard STC Series 66 Questions with 100% Correct
Answers
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.
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
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
Answers
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.
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
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
