Finra Series-63 Quiz 1 Topic 1 Questions 1-5

Question: 1

Which of the following trades is illegal?

Aa short sale

Ba margin transaction

Ca market-not-held order

Dthe sale of a mutual fund if the purchaser hasn't received a prospectus

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Question: 2

Which of the following would not appear on a trade confirmation?

Athe client's account number

Bthe commission

Cthe settlement date

DAll of the above items appear on a trade confirmation.

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Question: 3

Skip is a registered agent with state. He recently quit his job with Venus Broker-Dealers to become affiliated with Mars Broker-Dealers.

Which of the three entities must report this change to the state Administrator?

ASkip only

BSkip and either Mars or Venus, but not both

CBoth Skip and Venus

DSkip, Mars, and Venus

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Question: 4

An investment adviser or its representative may

Aonly exercise any discretionary power in the purchase or sale of securities for a client's account after receiving written authority prior to the execution of the transactions.

Bexercise discretionary power in the purchase or sale of securities for a client's account as long as it receives written discretionary authority over the account within 10 business days of the first discretionary transaction placed, assuming oral authority has already been given.

Cexercise discretionary power in the purchase or sale of securities for a client's account as long as.

Dexercise discretionary power in the purchase or sale of securities for a client's account only after.

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Question: 5

The state official who has regulatory authority over the securities industry within the state is known as the

Aattorney-general.

Badministrator.

Cinvestor-protection officer.

Dsecretary of state.

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Finra Series-63 Quiz:1 Topic:1 Questions:1-5