Registration and licensing
Which of the following individuals is defined as an "agent" under the Uniform Securities Act?
A. An individual who represents an issuer in sales of non-exempt securities
A BD application is received by the State Administrator for a new broker-dealer subsidiary of a Swiss securities firm. The application includes the disclosure that the parent firm was suspended from membership on the Deutsche Bourse 6 years ago because of unauthorized trading by its Hong Kong branch. The State Administrator
A. cannot deny registration based on the suspension that was imposed by a foreign regulator
Under the Uniform Securities Act of 1956, as amended, an issuer is defined as any person:
B. who issues or proposes to issue a security.
Upon filing a withdrawal of registration with the State, the Administrator can commence a revocation or suspension proceeding for up to:
C. 1 year from the effective date of the withdrawal
Which statement is TRUE regarding registration requirements under the Uniform Securities Act?
C. Minimum net capital can be required for broker-dealers and investment advisers
Which of the following can cause the Administrator to deny an application for registration?
C. The applicant is the subject of an order from a Canadian court suspending registration as a securities representative
Under the Uniform Securities Act, the financial records of a broker-dealer must be retained for:
C. the time period specified by the Securities Exchange Act of 1934 and if the record is not specified in the 1934 Act, then the time period specified by the Administrator
If a broker-dealer with no office in a State with a de minimis exemption is not registered in a State, then it may effect:
D. an isolated trade in a corporate bond in that State with a customer in that State
To maintain registration as a broker-dealer or investment adviser, which of the following may be required to be filed with the Administrator?
I Advertising II Sales Literature III Prospectuses IV Form Letters
Which of the following information is included on an applicant's registration application?
I Business history of applicant II Financial condition of applicant III Conviction record of applicant
Which statements are TRUE regarding the post-registration requirements of the Uniform Securities Act?
I Investment advisers are subject to post-registration requirements IV Agents of investment advisers are not subject to post-registration requirements
Which of the following can be required by the Administrator to register as a broker-dealer?
I Minimum dollar amount of net capital II Minimum dollar amount of surety bond coverage III Passing a written examination by the firm's officers
Which of the following statements are TRUE regarding registration requirements under the Uniform Securities Act?
I Minimum net capital can be required for broker-dealers III Surety bond coverage can be required for broker-dealers IV Surety bond coverage can be required for agents
Which of the following statements are TRUE? I The Administrator may suspend or revoke a registration for the sole reason that it is "in the public good" II If a broker-dealer registration is suspended, the agent's license is suspended III If an agent's license is suspended, the broker-dealer's license is suspended IV Broker-dealers, but not agents, may have their registration revoked for failing to supervise subordinates
II If a broker-dealer registration is suspended, the agent's license is suspended IV Broker-dealers, but not agents, may have their registration revoked for failing to supervise subordinates
Which of the following is (are) issuer transactions?
II Purchase of a mutual fund share III Purchase of a limited partnership interest from the sponsor
To register an agent in a State, the Administrator can require which of the following?
II Surety bond III Qualifying written or oral exams
Under NASAA, investment advisers must update their ADV filing made with the State:
II yearly, within 90 days of fiscal year end III within 30 days of any significant material change
