Series 63-Ch.4
The determinant of whether that State's Administrator would initiate a proceeding against an investment adviser for violations of the Uniform Securities Act is if the: StatusA A. adviser has an office located in that State StatusB B. violation involved securities registered in that State StatusC C. illegal conduct occurred in that State StatusD D. customer of the adviser filed a complaint in that State
C
The intentional omission of material facts when offering or selling a security can result in: I Civil liability II Criminal liability III Criminal penalties A I only B II only C II and III only D I, II, III
C
Upon discovering that a violation of the Uniform Securities Act has, or is about to occur, the Administrator is empowered to do all of the following EXCEPT: A. issue a cease and desist order against such person B. make a determination based upon findings of fact and conclusions of law C. refer the matter to a disciplinary panel for disposition D. bring action in a court of law to enjoin the acts or practices that violate the law
C
Which of the following statements about penalties under the Uniform Securities Act are TRUE? I Criminal liability may be offset by rescission II Civil liability may be offset by rescission III The statute of limitations on criminal actions is 5 years IV The statute of limitations on civil actions is 3 years StatusA A. I and III only StatusB B. II and IV only StatusC C. II, III, IV StatusD D. I, II, III, IV
C
Under the Uniform Securities Act, a person who sells securities in violation of the Act has civil liability for: I principal amount of the security II commission costs to acquire the security III interest on the amount invested IV attorney's fees related to the recovery of assets StatusA A. I only StatusB B. I and II StatusC C. III and IV StatusD D. I, II, III, IV
D
Under the Uniform Securities Act, the Administrator has the power to issue an order: A. enjoining an agent from engaging in the securities business B. requiring civil restitution to a person that has been harmed by the actions of the agent C. imposing criminal penalties on the agent for willful violations of the Act D. suspending the registration of the agent
D
Under the Uniform Securities Act, which of the following transactions are voidable by the buyer? I A customer was unknowingly sold stocks at prices higher than the current market at the time of the trade II Material facts were unknowingly omitted by the agent who sold the stock to the customer III A customer was unknowingly sold unsuitable securities A I only B I and II C II and III D I, II, III
D
Under the provisions of the Uniform Securities Act, the ability to make a civil claim is lost: StatusA A. upon the death of a customer who purchased the issue StatusB B. upon the death of the person who gave the investment advice to purchase that issue StatusC C. if the purchaser signs a waiver of rights at, or prior to, completion of the purchase StatusD D. if three years have elapsed since the security was purchased
D
The Uniform Securities Act empowers the State Administrator to conduct an investigation of an investment adviser if the: A. adviser has an office in the State B. act that gave cause to the investigation occurred in the State C. adviser has no office in the State, and the act that gave cause to the investigation occurred in another State D. the adviser has a telephone listing in the State
B
The statute of limitations for filing a claim alleging a criminal violation of the Uniform Securities Act is: A. 3 years B. 5 years C. 10 years D. Unlimited
B
Under the Uniform Securities Act, a purchaser may void a securities transaction: StatusA A. within 5 business days of the trade StatusB B. if the trade is contrary to the provisions of the Act StatusC C. if the security involved is exempt StatusD D. if the broker-dealer also is registered as an investment adviser and has charged a commission on the trade
B
Under the Uniform Securities Act, in a civil suit brought by a purchaser against a seller that is alleged to have violated the Uniform Securities Act, the burden of proof rests with the: StatusA A. Defendant Correct B. Plaintiff StatusC C. State securities administrator StatusD D. Judge presiding over the state court hearing the case
B
XYZ Advisers is a federal covered adviser with offices in States A, B and C. If the Administrator of State A receives a written complaint alleging that the adviser misappropriated that customer's funds, which statement is TRUE? StatusA A. Only the Administrator of State A can investigate the complaint StatusB B. The Administrators of States A, B and C can investigate the complaint StatusC C. Only the Administrator of State A can revoke the IA's registration StatusD D. The Administrators of States A, B and C can revoke the IA's registration
B
The Administrator is permitted to deny, revoke, or suspend the registration of any person associated with a broker-dealer who has been convicted of a misdemeanor involving securities or monies; or any felony; within the past: A 10 years B 15 years C 20 years D 25 years
A
All of the following statements are true about an offer of rescission EXCEPT: A the offer can only be made prior to the institution of a lawsuit alleging a securities violation B an offer must be made to buy back the security at the original purchase price C the customer must be paid interest at the legal rate in the State, less any dividend or interest income received from that security D the customer must sign a waiver of non-compliance to accept the offer
D
Under the provisions of the Uniform Securities Act, for willful violations, the State Administrator can: A. institute criminal proceedings B. impose a monetary fine C. file suit under civil liability provisions D. revoke registration of persons
D
An agent sells unregistered non-exempt securities to a customer, and has the customer sign a waiver that states that the "customer is aware that the securities are being sold without registration in the state and the customer absolves both the broker-dealer and agent of any legal obligation for failing to comply with State law." Such a statement signed by the client: StatusA A. is permitted without restriction StatusB B. is permitted only after filing with the Administrator StatusC C. is null and void StatusD D. will subject the agent and broker-dealer to civil liability and possible criminal penalties
C
An agent would be denied registration for all of the following reasons EXCEPT the agent: A. is insolvent B. failed to pay registration filing fees C. was convicted of a securities misdemeanor 11 years ago D. is not affiliated with a broker-dealer
C
An applicant's registration can be denied by the Administrator if that individual was convicted of a misdemeanor in the securities business; or any felony; within the past: A. 2 years B. 5 years C. 10 years D. 15 years
C
Any final order of an Administrator may be appealed to the: A. Securities and Exchange Commission B. State Securities Commission C. State Superior Court D. Federal District Court
C
A sales representative who unintentionally gives a fictitious quote to a customer: I has committed a felony II has committed a misleading Act III is liable to execute a trade for the customer at that price IV is subject to buying back the security at the purchase price plus interest at the legal rate in that State, less any dividend or interest income received on that security StatusA A. I and III only StatusB B. I and IV only StatusC C. II and III only Correct D. II and IV only
D
FINRA suspends an associated person for a rule violation. Which statement is TRUE? A. The individual will only be suspended in the State where the agent is physically located B. The individual will be suspended in each State in which he or she is registered under the Uniform Securities Act C. The individual will only be suspended in a given State if the Administrator of that State takes action D. The individual will only be suspended in the State if the violation of FINRA rules is also a violation of the Uniform Securities Act
B
If an individual disagrees with a final order of the Administrator, he or she can make an appeal within how much time of the order? A. 30 days B. 60 days C. 1 year D. 2 years
B
If it is in the public interest, the State Administrator may deny the registration of a person for all of the following reasons EXCEPT the applicant: A. has willfully violated the Act B. has insufficient experience C. is financially insolvent D. has failed to pay required fees
B
The Uniform Securities Act is administered by: A NASAA B CFTC C FINRA D SEC
A
An agent is registered in State Y. The agent accompanies a customer to State Z on a golf outing, where the agent makes an offer of securities to the customer. Which statements are TRUE? I State Y has jurisdiction over the offer of securities II State Z has jurisdiction over the offer of securities III The agent may qualify for a de minimis exemption in State Y IV The agent may qualify for a de minimis exemption in State Z StatusA A. I and III StatusB B. I and IV StatusC C. II and III StatusD D. II and IV
D
An investment adviser representative who is both located and registered in New York State has clients in New Jersey and Connecticut. The State Administrator of Connecticut, located in Hartford, has subpoenaed the representative to testify in Hartford. The representative: A. is only obligated to testify if he or she is registered in the State of Connecticut B. is only obligated to testify if the adviser has an office in the State of Connecticut C. is exempt from the requirement to testify in any State except New York D. must comply with the subpoena or be held in contempt of court
D
NASAA administers the: StatusA A. Uniform Securities Act StatusB B. Securities Act of 1933 StatusC C. Investment Advisers Act of 1940 StatusD D. Investment Company Act of 1940
A
If an investment adviser creates a website and offers individualized investment services based on client input, then: I this is considered to be an offer of advisory services in the State where the client who gave input resides II this is not considered to be an offer of advisory services in the State where the client who gave input resides III the investment adviser and its agents must be registered in each State where the client who gave input resides IV the investment adviser and its agents are not required to be registered in each State where the client who gave input resides StatusA A. I and III StatusB B. I and IV StatusC C. II and III StatusD D. II and IV
A
A customer that lives in State A is traveling by air to State C. While he is changing planes in State B, he receives a call on his cell phone from his broker, who solicits him to buy a security. He places the order with his broker and boards his connecting flight to State C. When he returns to his home in State A, he finds the trade confirmation in his mailbox. Which State Administrator(s) has (have) jurisdiction over the transaction? StatusA A. State A only StatusB B. State B only StatusC C. Both State A and B StatusD D. States A, B and C
A
A federal covered adviser with its only office in State A conducts business with three clients in State B. Who is permitted to audit the investment adviser? Correct A. The Administrator of State A StatusB B. The Administrator of State B StatusC C. Both the Administrators of State A and State B StatusD D. Only the SEC because the adviser is "federal covered"
A
A willful violation of the Uniform Securities Act would occur if an agent of a broker-dealer recommends the purchase of a(n): A. non-exempt security to a customer that the agent knows is not registered, however the customer does not buy that security B. security to a customer that the agent believes to be exempt and is not registered, however the agent later discovers that the Administrator has denied the issue's exemption C. exempt security to a customer that the agent knows is not registered and the customer makes a purchase of the recommended security D. non-exempt security to a customer that the agent believes to be registered and the customer does not buy that security
A
An Investment Adviser discovers that its computer system has been breached and personal client information has been stolen. Under Uniform State Law, the IA will be subject to: A. Administrative action B. Criminal prosecution C. Civil liability D. Mandatory arbitration
A
An RIA registered in State A is hired by a cruise ship line to offer investment advice to passengers during the cruise. The cruise ship line has obtained a letter from the State Securities Administrator of State A stating that the adviser is authorized to solicit accounts from the passengers from the port of embarkation, which is in State A. The adviser: Correct Answer A. can solicit all of the passengers to buy advisory services StatusB B. can only solicit accredited investors to buy advisory services Incorrect Answer C. can only solicit sophisticated investors to buy advisory services StatusD D. cannot solicit any of the passengers to buy advisory services
A
Criminal violations of the Uniform Securities Act are punishable by: A $5,000 fine and 3 years in jail B $10,000 fine and 3 years in jail C $5,000 fine and 5 years in jail D $10,000 fine and 5 years in jail
A
Criminal violations of the Uniform Securities Act are punishable by: I $5,000 fine II $10,000 fine III 3 years in jail IV 5 years in jail A. I and III B. I and IV C. II and III D. II and IV
A
If the Administrator believes that there has been a violation of the Uniform Securities Act, the Administrator is empowered, by order or decree, after providing the opportunity for a hearing, to: I revoke the registration of an investment adviser in that State II bar an investment adviser from operating within that State III require the posting of a larger surety bond in order for the investment adviser to remain in business in that State A. I and II B. II and III C. I only D. I, II, III
A
The Administrator of State A receives a complaint about an advertisement placed by a broker-dealer. The complaint claims the advertisement stated that: "Any investment made with XYZ Brokers would double in 3 years." XYZ Brokers is located in State B and the advertisement was created in State B and distributed in States A and B. The FIRST action that will be taken by the Administrator of State A is to: A investigate the complaint B refer the complaint to the Administrator of State B C issue a cease and desist order against XYZ Brokers D enjoin XYZ Brokers from the publication of future advertisements in the State A
A
Under Uniform State law, civil liability exists in all of the following circumstances EXCEPT when: StatusA A. customer margin securities are commingled with those of other margin customers StatusB B. an unregistered agent sells exempt securities to customers in the State StatusC C. a customer makes a purchase of securities based upon misleading statements made by an agent StatusD D. an offer of unregistered non-exempt securities is made to a customer and a sale occurs
A
Under the Uniform Securities Act, all of the following statements about penalties are true EXCEPT: A Criminal liability may be offset by rescission B Civil liability may be offset by rescission C the statute of limitations on criminal actions is 5 years D the statute of limitations on civil actions is 3 years
A
Under the Uniform Securities Act, the omission of material facts when offering or selling a security can result in: I Civil liability II Criminal liability III Criminal penalties A. I only B. II only C. II and III only D. I, II, III
A
Under the provisions of the Uniform Securities Act, any rule may be modified or rescinded: StatusA A. by the Administrator in order to carry out the provisions of the Act StatusB B. only with the approval of that State's legislature StatusC C. only with the approval of the North American Securities Administrators Association StatusD D. with the approval of the Securities and Exchange Commission
A
Unintentional violations of the Uniform Securities Act are considered to be a: A. misdemeanor subjecting that person to civil liability only B. misdemeanor subjecting that person to civil liability and civil penalties C. felony subjecting that person to criminal liability only D. felony subjecting that person to criminal liability and criminal penalties
A
Which of the following falls under the jurisdiction of the Administrator of the State of New Jersey? StatusA A. The purchase of call options by a customer living in New Jersey via a Nebraska-based broker-dealer's Internet web site StatusB B. The sale of certificates of deposit by an Internet bank located in South Dakota to customers residing in the State of New Jersey StatusC C. The delivery of securities by DTCC located in New York to customers located in the State of New Jersey StatusD D. The redemption of mutual fund shares with the paying agent located in Massachusetts by customers located in the State of New Jersey
A
Which of the following statements is TRUE regarding a sales representative who intentionally embezzles monies from a customer's account? A. The sales representative has committed a felony and is subject to fines and/or imprisonment B. The sales representative has committed a felony and is subject to fines and/or imprisonment only if the customer's monies are not replaced within a specific time frame C. The sales representative has committed a fraudulent and misleading act only if the customer's monies are not replaced within a specific time frame D. None of the above
A
The State Administrator receives a complaint about a Federal Covered adviser which has made a notice filing in the State, alleging that the adviser stole from him. Which statement is TRUE about this? A. The Administrator cannot take action because the adviser is Federal Covered B. The Administrator can investigate the complaint C. The Administrator must refer the complaint to the SEC and tell the client that it is doing so D. The Administrator can rescind the registration of the adviser
B
A broker-dealer located in New York makes an offer of securities to a customer whose principal residence is in New Jersey. The customer has temporarily moved to Ohio and has asked the post office in New Jersey to forward the mail to the customer's address in Ohio. Which State Administrator(s) has (have) jurisdiction over the offer? StatusA A. Ohio only StatusB B. New York only StatusC C. New York and Ohio StatusD D. New York, New Jersey and Ohio
B
A broker-dealer that is not registered in a State sells non-exempt securities in non-exempt transactions to customers located in that State. That State's Administrator will: StatusA A. require that the securities be registered in the State and that the broker-dealer register in that State StatusB B. require the broker-dealer to make an offer of rescission to each purchaser in that State StatusC C. require that a notice filing be made in the State along with the payment of a filing fee StatusD D. institute an action in a court of law alleging criminal activities on the part of the broker-dealer
B
A customer has brought a civil suit against a broker-dealer and an agent for violating the Uniform Securities Act. Two weeks before the court date, the plaintiff dies. Which statement is TRUE? StatusA A. The civil suit is terminated upon the death of the plaintiff StatusB B. The civil suit survives the death of the plaintiff StatusC C. The civil suit must be settled within 60 days of the plaintiff's death StatusD D. The Administrator decides whether the suit is terminated or survives upon the plaintiff's death
B
A customer in Montana receives the Wall Street Journal, in which an offer of securities is made. The Wall Street Journal is not published in Montana, and has no office in Montana. Which statement is TRUE? StatusA A. An offer of securities has been made in Montana StatusB B. No offer of securities has been made in Montana StatusC C. An offer to sell has been made only to subscribers of the Journal StatusD D. An offer to sell has only been made to Montana residents if at least 50% of the paper's total circulation is in that State
B
All of the following statements are true regarding rules and orders of the Administrator under the Uniform Securities Act EXCEPT: A. rules are general in applicability; orders apply to specific cases B. different penalties apply for violations of rules and orders than for violations of the Act's provisions C. the Administrator may enter an order prior to conducting a hearing D. the Administrator may make any rule or order relating to the Act
B
An IAR associated with a Federal Covered Adviser is terminated. The IAR goes to the State Administrator with a complaint, alleging that the Federal Covered Adviser did not pay him all of the money he was due when he was terminated. Which statement is TRUE regarding the Administrator's right to investigate the Federal Covered Adviser about this allegation? A. Because the adviser is federal covered, the Administrator does not have the right to investigate this complaint B. The Administrator has the right to investigate the complaint, even though the adviser is not registered in the State C. The Administrator may issue an injunction against the federal covered adviser, but cannot investigate the adviser D. Because the adviser is federal covered, the Administrator can only refer the complaint to FINRA
B
An Investment Adviser Representative who lives and works in a northern suburb of Chicago, Illinois is registered in the State of Illinois. The IAR moves to Kenosha, Wisconsin. The IAR will now commute to work in the office in Illinois. Which statement is TRUE? StatusA A. The IAR is required to register in the State of Wisconsin StatusB B. The IAR is not required to register in the State of Wisconsin StatusC C. The IAR must de-register in the State of Illinois StatusD D. The IAR must both register in the State of Wisconsin and de-register in the State of Illinois
B
An agent and her customer reside in State A, where the agent is registered. The agent is vacationing in State B, where her client also happens to be vacationing. While in State B, the agent makes an offer of securities to the client. Who has jurisdiction over the transaction? StatusA A. State A only StatusB B. State B only StatusC C. Both States A and B StatusD D. Any State that has adopted the Uniform Securities Act
B
Regarding inspection powers, the State Administrator: A. can only visit and conduct a walk-in audit of broker-dealer offices intra-State if it is in the public interest or for the protection of investors B. can visit and conduct a walk-in audit of broker-dealer offices either intra-State or inter-State if it is in the public interest or for the protection of investors C. can only visit and conduct a walk-in audit of broker-dealer offices intra-State, and cannot do so inter-State, but a referral of the matter can be made to the Administrator in the other State(s) D. is not permitted to visit and conduct a walk-in audit of broker-dealer offices unless the Administrator believes that a violation has occurred or is about to occur
B
The Administrator can subpoena the records of a broker-dealer or agent: A only after a violation has occurred B if he suspects that a violation has occurred C only if written customer complaints are received by the Administrator D only if criminal charges are being filed against that person
B
The Administrator will deny an agent's registration application if the applicant was: A convicted of a driving misdemeanor 5 years ago B convicted of a drug felony 10 years ago C arrested for an insider trading violation for which a trial date has been set D sued under the Federal Securities Acts for manipulation of Pink Sheet stocks
B
A broker-dealer headquartered in State X has an agent that is located in State Y. The agent accompanies a customer to State Z on a golf outing, where the agent makes an offer of securities to the customer. Which State(s) has (have) jurisdiction over the offer? StatusA A. State X only StatusB B. State Y only StatusC C. State Z only StatusD D. States X, Y and Z
C
A sales representative who fails to register as an agent of a broker-dealer: I has committed a felony II has committed a misleading Act III is subject to civil liability IV is subject to criminal liability A I and III only B I and IV only C II and III only D II and IV only
C
An Investment Adviser (IA) has its headquarters in State A. The IA has 4 natural clients in States B, C and D - all States where it does not have an office location. An Investment Adviser Representative (IAR) associated with the IA does most of her business in State A. To expand her business, the IAR holds a monthly seminar in State B, inviting interested individuals to attend. In which States must be IAR be registered? StatusA A. State A only StatusB B. State B only StatusC C. States A and B StatusD D. States A, B, C and D
C
An agent sells unregistered non-exempt securities to a customer, and has the customer sign a statement that he is aware that the securities are unregistered. The agent receives a commission for the trade. Under the Uniform Securities Act, this transaction is: StatusA A. allowed under the isolated non-issuer transaction exemption StatusB B. allowed under the private placement exemption StatusC C. null and void under the Act, subjecting the agent to civil liabilities StatusD D. allowed since the customer acknowledged the status of the securities in writing
C
During the past year, an agent of a registered broker-dealer has offered partnership units to wealthy investors in a private placement. The agent finds that he has been named in a civil lawsuit filed by one of the buyers of the private placement units, claiming that untrue statements were made by the agent in connection with the sale of the issue. Which of the following is a defense against the buyer's claim that is most likely to be upheld by a court of law? StatusA A. The agent can claim that the buyer was informed of all material facts and is filing a frivolous lawsuit to extract a large settlement from the agent StatusB B. The agent can claim that because the investor was wealthy, he or she is "sophisticated" and understood the merits of the transaction prior to entering into a contract to buy the partnership unit Correct C. The agent can claim that he took reasonable care to ensure that no untrue statements were made at, or before, the sale of the securities and that the agent did not, and could not, know of the untrue statement StatusD D. The agent does not have to make a showing in a court of law because the burden of proof rests on the claimant and not on the defendant in civil suits
C
The Administrator can take which of the following actions? I Require a witness to testify in a hearing, even though the testimony may tend to incriminate that witness II Suspend the constitutional privilege against self-incrimination available to an individual III Inspect a broker-dealer located in another State that does business in the Administrator's State IV Coordinate inspections with those conducted by the Securities and Exchange Commission A. II and IV B. I, II, III C. I, III, IV D. I, II, III, IV
C
The Administrator has the authority to do all of the following EXCEPT: A. subpoena persons and records for investigations B. seek injunctions against persons suspected of violating the Act C. suspend or revoke registration of persons solely if it is "in the public good" D. issue a stop order halting sale of an issue if another State halts sale of the issue
C
The Administrator is authorized to do all of the following EXCEPT: A. revoke the registration of all agents associated with a broker-dealer when the broker-dealer's registration is revoked B. subpoena the books and records of a broker-dealer after a suspension order is issued C. suspend a registration pending a hearing without stating a reason for the suspension D. obtain an injunction against any person suspected of violating the Act
C
The Administrator of State Z receives a complaint about an advertisement placed by an investment adviser. The complaint claims the advertisement stated that: "Any investment made with IZZI Advisers would double in 5 years." IZZI Advisers is located in State X and the advertisement was created in State X and distributed in States X and Z. Which statement is TRUE? A. The Administrator of State Z has no jurisdiction because the adviser is located in State X B. The Administrator of State Z will refer the complaint to the Administrator of State X C. The Administrator of State Z will investigate the complaint D. The Administrator of State Z will enjoin IZZI Advisers from the publication of future advertisements in the State Z
C
The Administrator of a State determines that a broker-dealer has violated State law by selling unregistered non-exempt securities and issues a cease and desist order. If the broker-dealer continues to offer these securities in the State, then the Administrator may: A refer the case to the SEC who can issue an injunction B bring action in Federal Court to request an injunction C bring action in a court of competent jurisdiction to request an injunction D refer the case to the local police for arrest and arraignment of the officers and agents of the broker-dealer
C
The Uniform Securities Act subjects agents and broker-dealers who violate the Act's provisions to which of the following? I Civil Liability II Civil Penalties III Criminal Liability IV Criminal Penalties A. I and II only B. III and IV only C. I, III, and IV D. I, II, III, IV
C
The anti-fraud provisions of the Uniform Securities Act would apply to the sale in the State of: I fixed annuities II variable annuities III whole life insurance IV variable life insurance A. I and II only B. III and IV only C. II and IV only D. I, II, III, IV
C
The State Administrator is empowered to do which of the following? I Administer oaths II Subpoena witnesses III Conduct investigations IV Require the production of documents A. I and II only B. III and IV only C. I, II, III D. I, II, III, IV
D
The anti-fraud provisions of the Uniform Securities Act apply to: I buyers of exempt securities II buyers of non-exempt securities III sellers of exempt securities IV sellers of non-exempt securities A. I only B. I and II C. III and IV D. I, II, III, IV
D
The anti-fraud provisions of the Uniform Securities Act apply to: I the buyer of a security II the seller of a security III exempt securities IV exempt transactions A I only B I and II C III and IV D I, II, III, IV
D
Civil liability arises for an investment adviser under the Uniform Securities Act for all of the following reasons EXCEPT the investment adviser: StatusA A. fails to supervise its employees StatusB B. fails to disclose to a customer that it acted as principal, selling a security from the adviser's proprietary account to the customer StatusC C. omits a material fact when making a sales presentation to a client Correct D. recommends the purchase of registered non-exempt securities to a client
D
If a broker-dealer's net capital falls below the minimum requirement for registration in a State, the Administrator has the power to: A. liquidate the assets of the firm and distribute the proceeds to the firm's customers B. petition a court of law to appoint SIPC as the trustee managing the distribution of the firm's assets C. freeze the assets of the firm D. make a proper showing to a court of law to appoint a receiver over the firm's assets
D
If a customer exercises the right of rescission allowed under the Uniform Securities Act, the offer must be accepted within: StatusA A. 10 days of written notice from the seller StatusB B. 15 days of written notice from the seller StatusC C. 20 days of written notice from the seller StatusD D. 30 days of written notice from the seller
D
If an agent does not obey a subpoena to testify in court, as required by the Administrator, the court may do all of the following EXCEPT: A. hold the agent in contempt of court B. order the agent to appear before the Administrator C. grant injunctive relief restricting the sale or offer of securities D. incarcerate the agent for up to 60 days to compel attendance
D
Intentional or willful violations of the Uniform Securities Act that are considered to be a felony subject that person to: A. civil liability only B. civil liability and civil penalties C. criminal liability only D. criminal liability and criminal penalties
D
Internet communications by agents of broker-dealers will NOT be considered to be offers of securities transactions in a State as long as the: I communication is limited to "general" information II agent's affiliation with the broker-dealer is prominently displayed III broker-dealer retains responsibility for the review and approval of the content IV agent does not exceed the scope of authority granted by the broker-dealer A I and II B III and IV C I, II, III D I, II, III, IV
D
Suits alleging criminal violations of the Uniform Securities Act must be brought within how many years of the occurrence of the alleged violation? A 1 year B 2 years C 3 years D 5 years
D
The Administrator can do all of the following EXCEPT: A. subpoena witnesses within that State B. subpoena witnesses in other States C. issue a cease and desist order to a person in the securities business D. enjoin a person from engaging in the securities business
D
The Administrator has authority over transactions in all of the following EXCEPT the State where the: StatusA A. client resides StatusB B. agent resides StatusC C. transaction occurs StatusD D. broker-dealer maintains a bank account
D
The Administrator of New York State can examine the books and records of all the following EXCEPT a: StatusA A. registered investment adviser's office in New York State StatusB B. branch office of a broker-dealer registered in New York State, whose main office is in California StatusC C. main office of a broker-dealer in California, who has a branch office in New York State StatusD D. main office of a broker-dealer in California, who has no branch office and effects no transactions in New Yorkd
D
XYZ Advisers is a federal covered adviser with an office in State A. It has 400 clients in State A; 6 clients in State B; and 3 clients in State C. A customer in State C files a complaint with that State's Administrator alleging that XYZ adviser made misleading statements. Which State Administrator(s) has the authority to revoke XYZ Adviser's registration? StatusA A. State A only StatusB B. States A and B only StatusC C. States A, B and C StatusD D. None of the above
D