Series63試験無料問題集（251題）「FINRA Uniform Securities Agent State Law Examination 認定」

出題：1

Until yesterday Maddie was a registered agent employed by the broker-dealer, QuikDeals. Yesterday afternoon, issues that had been brewing between her and another employee of the firm came to a head, and Maddie impulsively quit her job.
At this point,

A. Maddie is required to call all of her clients at QuikDeals to inform them she is no longer employed there.

B. Maddie will have to file a new application for registration with the Administrator upon finding employment with another broker-dealer since she is no longer considered to be a registered agent by the state.

C. Maddie has thirty days to find a job with another broker-dealer, or she will need to file a new registration application.

D. Maddie has sixty days to find a job with another broker-dealer, or she will need to file a new registration application.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：2

A broker-dealer of commodity futures contracts has been profiting by trading for its own account either before or after executing a client's trade on the same commodity, depending on which will be most advantageous.
Under the Uniform Securities Act, the broker-dealer is guilty of

A. churning.

B. unauthorized transactions.

C. fraud.

D. nothing. The Uniform Securities Act (USA) deals only with securities, and a commodity futures contract is not a security.

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：3

Which of the following actions is the Administrator of a state empowered to take?

A. gather evidence

B. require restitution for the victims of a scam

C. impose civil penalties in cases of fraud

D. The Administrator of a state has the authority to take all of the above actions.

正解：A 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：4

Which of the following entities are subject to post-registration provisions?
I. broker-dealers
II. agents
III. investment advisers
IV. investment adviser representatives

A. II and IV only

B. I and III only

C. All of the entities are subject to post-registration provisions.

D. I and II only

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：5

The trade confirmation must be received by the customer no later than

A. one week after the settlement date.

B. five business days after the settlement date.

C. the day after the trade takes place.

D. the settlement date.

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：6

You have passed the necessary exams (congratulations!) and are applying for registration as a securities agent.
It is already the end of September. Therefore, you must pay

A. the full annual fee, and your license will expire on December 31st next year.

B. one-fourth of the annual fee required since only one quarter of the year remains.

C. the full annual fee, and your license will expire on September 30th next year.

D. the full annual fee, and your license will expire on December 31st this year.

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：7

Which of the following securities would not necessarily be exempt from state registration?

A. a stock listed as a NASDAQ National Market Issue.

B. a bond issued by another state's employees' credit union

C. a bond guaranteed by the Canadian government

D. a stock listed on the Tokyo Stock Exchange

正解：D 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：8

Constance is an investment adviser representative. She told one of her clients that he should put at least 15% of his investment monies in a U.S. government bond mutual fund.
She explained that she believed that he required this percentage to meet his liquidity needs, and U.S.
government bond funds are risk-free. A few months later, the client needed to sell some of his fund shares in order to pay some medical bills and was surprised to discover that he lost money on the sale because the net asset value of the fund had dropped.
Was Constance guilty of any securities violations?

A. It depends. If Constance realized that the client could lose money in a U.S. government bond fund, then she is guilty of fraud, but if she did not herself realize that, then she is merely misinformed.

B. Yes. Constance is guilty of fraud. She misled the client into thinking he couldn't lose any money if he invested the money in a U.S. government bond mutual fund.

C. Yes. Constance should never recommend that a client invest such a high percentage of his investment monies in a U.S. government bond mutual fund.

D. No. U.S. government bonds are often referred to as risk-free investments, so Constance made no misstatement of fact in telling her client this.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：9

Blue Sky Laws are designed to:

A. favor investment in companies that engage in environmentally friendly practices.

B. protect investors from fraud in their securities market transactions.

C. enhance the tourism industry within a state.

D. protect agents, broker-dealers, and investment advisers and their representatives from spurious allegations of fraudulent activity.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：10

No: 167
A "market not held" order is

A. a prohibited activity in which an agent engages in the purchase or sale of securities that are not offered by his broker-dealer.

B. an order in which the client tells the broker to use his own discretion in timing a purchase or sale in an attempt to get a better price.

C. an order to sell securities that the investor owns if the stock decreases by a certain amount from the current price.

D. an order to buy or sell a stock at a specified price, which differs from the current market price.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：11

Which of the following funds can an agent indicate is "no load?"

A. a fund with no front-end load that has 12b-1 fees equal to 0.10% of the average net assets of the fund and a rear-end load that varies depending on how long the investor has held the shares.

B. a fund with no front-end or back-end load that has 12b-1 fees equal to 0.30% of the average net assets of the fund.

C. a fund with no front-end or back-end load that has 12b-1 fees equal to 0.25% of the average net assets of the fund.

D. Both A and C can be advertised as "no load" funds.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：12

An investment adviser
I. provides investment advice to clients.
II. sells securities to clients.
III. buys and sells securities in their clients' accounts for the clients.

A. I and III only.

B. I and II only.

C. I, II, and III.

D. I only.

正解：A 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：13

Ms. Naivete gave Mr. Smooth, owner of Smooth Construction, $40,000 in return for a promissory note that promised to pay interest at the rate of 8% a quarter, with a repayment of principal at the end of two years. The money would be used by Mr. Smooth to rehab a few beach condo units that had been severely hurricane-damaged and that Mr. Smooth had been able to purchase for "pennies on the dollar," or so he said.
The first units would be completed within a month, and the rents would be used to make the interest payments.
The investment was almost as risk-free as U.S. government bonds, Mr. Smooth claimed. By the end of the second year, Ms. Naivete had received a lot of fast talk and only one of the promised interest payments.
Have there been any violation of securities laws in this instance?

A. No. This was simply a loan transacted between two parties.

B. Both B and C are true statements.

C. Yes. Ms. Naivete has been defrauded by Mr. Smooth.

D. Yes. Mr. Smooth was required to register the promissory note before he offered it for sale.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：14

A broker-dealer cannot legally be

A. an individual.

B. a partnership.

C. A broker-dealer can be any of the above.

D. a sole-proprietorship.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：15

A-2-Z Associates is a full service brokerage and is also in the investment advisory industry, charging its clients for investment advice for additional remuneration.
Which of the following statements is true?

A. A-2-Z can charge an individual client an advisory fee for its advice or a commission when it executes a trade that the client makes based on that advice, but not both.

B. A-2-Z can charge the client both an advisory fee for its advice and a commission for the execution of a trade based on that advice, but it must inform the client of its potential conflict of interest in doing so and get the client's written consent.

C. A-2-Z can charge the client only an advisory fee when it is serving as an investment adviser; no commissions may be collected.

D. A-2-Z can charge the client both an advisory fee for its advice and a commission on any trade the client makes based on the advice. This is all laid out in the advertising brochures full service brokerage firms like A-2-Z provide their prospective clients.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

Series63試験無料問題集「FINRA Uniform Securities Agent State Law Examination 認定」