STC Series 63 Progress Exam 1B Questions with
100% Correct Answers
Under the USA, which of the following choices would
NOT be considered a person?
A. corporation
B. partnership
C. adult found to be mentally incompetent
D. investment adviser representative Correct Answer: C.
adult found to be mentally incompetent
The USA has a broad definition of the word person.
Natural persons (individuals) and legal persons
(partnerships and corporations) are included in this
definition. Minor children, incompetent adults, and
deceased persons are not considered persons
,All of the following persons are defined in the USA
EXCEPT:
A. Issuer
B. Broker-dealer
C. Registered representative
D. Investment Adviser Representative Correct Answer: C.
Registered Representative
The term registered representative is not defined in the
USA, although it is used in federal law. According to the
Uniform Securities Act, an issuer is a person who offers
securities, or plans to offer them. A broker-dealer is in the
business of buying and/or selling securities either for
customers or on its own behalf. An investment adviser
representative is an employee of an investment adviser
who gives advice to clients, sells these services, or
supervises people who do. Remember, the term person
, in the Uniform Securities Act applies both to entities,
such as companies, and individuals.
All of the following statements are NOT TRUE regarding
the USA.
A. it is part of federal law governing state securities
requirements
B. Each state may adopt certain provisions of the Act
while omitting others.
C. It is the model law governing state registration
requirements
D. The SEC determines which portion of the Act Admins
should enforce. Correct Answer: C. It is the model law
governing state registration requirements.
The USA is a model law governing state registration
statuses for securities and financial professionals. The
USA gives guidance to individual states when they draft
100% Correct Answers
Under the USA, which of the following choices would
NOT be considered a person?
A. corporation
B. partnership
C. adult found to be mentally incompetent
D. investment adviser representative Correct Answer: C.
adult found to be mentally incompetent
The USA has a broad definition of the word person.
Natural persons (individuals) and legal persons
(partnerships and corporations) are included in this
definition. Minor children, incompetent adults, and
deceased persons are not considered persons
,All of the following persons are defined in the USA
EXCEPT:
A. Issuer
B. Broker-dealer
C. Registered representative
D. Investment Adviser Representative Correct Answer: C.
Registered Representative
The term registered representative is not defined in the
USA, although it is used in federal law. According to the
Uniform Securities Act, an issuer is a person who offers
securities, or plans to offer them. A broker-dealer is in the
business of buying and/or selling securities either for
customers or on its own behalf. An investment adviser
representative is an employee of an investment adviser
who gives advice to clients, sells these services, or
supervises people who do. Remember, the term person
, in the Uniform Securities Act applies both to entities,
such as companies, and individuals.
All of the following statements are NOT TRUE regarding
the USA.
A. it is part of federal law governing state securities
requirements
B. Each state may adopt certain provisions of the Act
while omitting others.
C. It is the model law governing state registration
requirements
D. The SEC determines which portion of the Act Admins
should enforce. Correct Answer: C. It is the model law
governing state registration requirements.
The USA is a model law governing state registration
statuses for securities and financial professionals. The
USA gives guidance to individual states when they draft
