FINRA Series63 Questions & Answers - in .pdf
- Vendor: FINRA
- Exam Code: Series63
- Exam Name: Uniform Securities Agent State Law Examination
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FINRA Series63 Exam Overview:
| Certification Vendor: | FINRA |
|---|---|
| Exam Name: | Uniform Securities Agent State Law Examination |
| Exam Number: | Series 63 |
| Related Certifications: | Series 6 Series 66 Series 7 |
| Exam Duration: | 75 minutes |
| Available Languages: | English |
| Exam Format: | Multiple-choice, Computer-based exam |
| Exam Price: | $147 USD |
| Passing Score: | 72% (43 out of 60 questions) |
| Real Exam Qty: | 60 scored multiple-choice questions |
| Certificate Validity Period: | Indefinite (subject to state registration and regulatory requirements) |
| Recommended Training: | Securities Training Corporation (STC) - Series 63 Kaplan Financial Education - Series 63 |
| Exam Registration: | FINRA Series 63 Exam Registration |
| Sample Questions: | FINRA Series63 Sample Questions |
| Exam Way: | Computer-based, proctored at authorized testing centers (Prometric) |
| Pre Condition: | No formal prerequisite, but typically taken alongside or after Series 6 or Series 7 for state registration purposes |
| Official Syllabus URL: | https://www.finra.org/registration-exams-ce/qualification-exams/series63 |
FINRA Series63 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Regulation of Investment Advisers and Agents | - Registration requirements for agents - Broker-dealer regulation and supervision |
| State Securities Acts and Regulations | - Uniform Securities Act (USA) framework - Registration of securities and exemptions |
| Administrative Provisions and Enforcement | - State enforcement powers and penalties - Recordkeeping and reporting requirements |
| Ethical Practices and Fiduciary Responsibilities | - Prohibited practices and fraud prevention - Disclosure obligations and client protection |
FINRA Uniform Securities Agent State Law Examination Sample Questions:
Question #1
Which of the following securities would not necessarily be exempt from state registration?
A. a bond issued by another state's employees' credit union
B. a stock listed on the Tokyo Stock Exchange
C. a bond guaranteed by the Canadian government
D. a stock listed as a NASDAQ National Market Issue.
Question #2
Once a person has filed an application with the Administrator, and in doing so has truthfully disclosed every material fact, how long does the Administrator have after the effective date of the registration to commence a proceeding to deny, suspend, or revoke that person's license based on those facts?
A. 60 days.
B. 90 days.
C. 30 days.
D. one year.
Question #3
Which of the following securities would be exempt from state registration requirements, according to the Uniform Securities Act?
I. a municipal bond issued by the Canadian province of Nova Scotia
II. a bond issued by the county of Cork, Ireland
III. a bond issued by Nationwide Insurance Company
A. Selection I and III only
B. Selection I only
C. Selection III only
D. All of the selections would be exempt from state registration requirements under the Uniform
Question #4
The settlement date refers to
A. the date the order to purchase or sell the security is sent to the market.
B. the latest date on which broker-dealers can file their quarterly financial statements with the Administrator of the state.
C. the date the buyer must pay for the securities purchased.
D. the date the order to purchase or sell a security is actually executed. This may differ from the date that the order is sent to the market in the cases of limit or stop orders.
Question #5
Which of the following is not considered to be a security, as defined by the Uniform Securities Act (USA)?
A. a debenture
B. an annuity contract wherein an insurance company promises to pay a fixed sum, either in a lump amount or through periodic payments.
C. a put option
D. a certificate of deposit (CD)
Solutions:
| Question #1 Answer: B | Question #2 Answer: B | Question #3 Answer: A | Question #4 Answer: C | Question #5 Answer: B |
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