Series 63 1.3
Which of the following would NOT be considered an agent under the Uniform Securities Act?
A broker-dealer who transacts business with the general public (The definition of an agent specifically excludes broker-dealers.)
The Uniform Securities Act would NOT require which of the following to be registered as agents of a broker-dealer?
A partner who has contributed most of the capital of the firm but takes no part in its activities
Under the Uniform Securities Act, an individual representing an issuer in the sale of its securities to the general public is defined as an agent if the issuer is
an insurance company authorized to do business in the state (insurance company not on list)
Under the USA, a person representing the issuer is not considered an agent in any of the following transactions EXCEPT
nonexempt, initial public offerings confined to a single state of registration (Persons who represent nonexempt issuers of new securities)
An employee of a commercial bank selling the bank's bonds to its banking clients is acting in the capacity of a(n)
person excluded from the definition of an agent (Commercial banks are included in that group of issuers of exempt securities )
Which of the following are NOT included in the definition of an agent in the Uniform Securities Act?
I.A licensed broker-dealer II.An officer of an issuer who only represents the issuer in selling shares to a broker-dealer underwriting the company's securities
An agent is registered in Illinois and Ohio. One of her substantial clients has just moved from Ohio to Arizona, and the agent would like to continue to do business with her. Under the Uniform Securities Act, which of the following statements is TRUE?
I.The agent's broker-dealer must already be registered in Arizona or complete the Arizona registration process within a time period specified by the act. II.The agent must complete the Arizona registration process within a time period specified by the act.
An agent is currently registered with Broker-dealer X and would like to register with Broker-dealer Z. Under the Uniform Securities Act,
registration would be required with each broker-dealer
The term "agent", as defined in the Uniform Securities Act, would not include which of the following individuals?
One who represents a registered broker-dealer selling unregistered exempt securities B) One who represents an issuer of any exempt security C) One who represents a registered broker-dealer selling securities listed on the NYSE to individual clients (NOT One who represents an issuer in effecting exempt transactions)
When a broker-dealer's registration under the Uniform Securities Act is revoked, which of the following occur?
Registrations of agents of that firm are no longer in effect. (suspended)
The Administrator of State A has just notified Rockland Securities, domiciled in State D, that its application to operate as a broker-dealer in this state is now effective. Which of the following parties would be considered registered in State A?
The firm Agents who are officers Agents who are directors
Under the Uniform Securities Law, an individual is not required to register as an agent if he represents any of the following issuers in the sale of their securities EXCEPT
a Canadian corporation
Revocation of the registration of that agent's broker-dealer will result in
cancellation of that agent's effective registration.
An agent lives in Montana and is registered in Montana and Idaho. His broker-dealer is registered in every state west of the Mississippi River. The agent's client, who lives in Montana, decides to enroll in a 1-year resident MBA program in Philadelphia, Pennsylvania. During the 1-year period, when the client is in Philadelphia, the agent may
conduct business with the client as usual (not his permanent residence)
Under the Uniform Securities Act, an agent is a(n
individual representing a broker-dealer who sells federal covered securities
A publicly traded corporation offers its employees an opportunity to purchase shares of the company's common stock directly from the issuer. A specific employee of the company is designated to process any orders for that stock. Under the USA, the employee
must register as an agent only if he will receive commissions or remuneration, either directly or indirectly related to the volume of sales
Agents must be registered in a state where they do all of the following EXCEPT
solicit the sale of securities by telephone accept unsolicited orders for exempt securities offer securities for sale
An individual representing the issuer in the sale of that issuer's securities to the public would have to register in this state if
the issuer is a federal savings and loan association authorized to do business in this state
Under the Uniform Securities Act, an agent's license is effective for
the time remaining until December 31 of that year at which time it must be renewed