Free FINRA Series-63 Exam Questions

Become FINRA Certified with updated Series-63 exam questions and correct answers

Page: 1 / 51

Total 254 Questions | Updated On: Dec 31, 2024

Add To Cart

Question 1

The maximum monetary civil liability that a person who has violated a securities law can be expected to pay is

A : the original investment + a state-deemed appropriate interest rate + court costs and reasonable attorneys’ fees + any state-determined “pain and suffering” award.

B : the original investment + a state-deemed appropriate interest rate + court costs and reasonable attorneys’ fees + any state-determined “pain and suffering” award - any income the victim has received on the investment.

C : the original investment + a state-deemed appropriate interest rate + court costs and reasonable attorneys’ fees - any income the victim has received on the investment.

D : the original investment + a state-deemed appropriate interest rate + court costs and reasonable attorneys’ fees + any income the victim has received on the investment.

Answer: C

Question 2

Under the NASAA Model Rules, which of the following must an investment adviser provide its clients with at least once a year?

A : the total number of agency cross transactions completed for the client during the period

B : the total amount of commissions or other compensation that the investment adviser received or expects to receive in connection with agency cross transactions performed for the client during the period

C : the number of any complaints that each of its investment adviser representatives has received during the period

D : both A and B

Answer: D

Question 3

MoeMoney Investment Advisers, LLC is registered in the state of Texas, and its three offices are all located in the greater Dallas-Fort Worth area. Five of its clients-all individuals-have relocated to Colorado and all have indicated a desire to retain the services of MoeMoney. In order for this to be possible,

A : MoeMoney will need to apply for and be granted registration as an investment adviser in the state of Colorado.

B : each client will have to write a letter to the Administrator of the state of Colorado on MoeMoney’s behalf.

C : MoeMoney will need to apply for and be granted registration as an investment adviser representative in the state of Colorado.

D : Neither MoeMoney nor its clients need do anything.

Answer: D

Question 4

White and Associates is an investment adviser registered in the state of Kentucky and, as such, is meeting Kentucky’s minimum net capital requirement for investment advisers. The firm recently registered with the state of Virginia and has opened an office there. Virginia has a significantly higher net capital requirement for its investment advisers. Which of the following statements is true?

A : According to the Uniform Securities Act, S. White will have to meet Virginia’s higher requirement.

B : According to the Investment Advisers Act of 1940, S. White needs only to meet the net capital requirement of Kentucky.

C : According to the Securities Exchange Act of 1934, S. White needs to meet at least the minimum net capital requirement specified by that Act since it is now operating in multiple states.

D : According to the Investment Advisers Act of 1940, S. White will have to maintain a minimum net capital equal to the average of the net capital requirements of the two states.

Answer: B

Question 5

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 : All of the selections would be exempt from state registration requirements under the Uniform

B : Selection I only

C : Selection I and III only

D : Selection III only

Answer: C

Page: 1 / 51

Total 254 Questions | Updated On: Dec 31, 2024

Add To Cart