最新のSeries_63問題集で試験を準備する

FINRA Series_63 試験概要:

FINRA Series_63 試験シラバストピック:

FINRA Uniform Securities Agent State Law Examination 認定 Series_63 試験問題：

問題 #1

A-2-Z Associates advertises itself as a full service brokerage firm that will buy and sell securities for its
clients, as well as provide investment advice to them. Its brochure provides a variety of plans to which a
client can subscribe. The basic plan is the cheapest and allows the client a maximum number of trades
per month for a specified fee. Another, slightly more expensive, plan provides the client with the same
maximum number of trades per month, but the client also receives a personalized quarterly review of his
portfolio along with advice for restructuring his portfolio based on such factors as current market
conditions and specific industry or company information. The most expensive plan is one in which the
client is assigned to an individual portfolio manager, who will take total responsibility for the asset
allocation of the client's portfolio and will provide the client with monthly reports. Based on the services
A-2-Z provides, it must register with the state as:

A. an investment adviser.
B. both a broker-dealer and an investment adviser.
C. a broker-dealer.
D. an investment adviser representative.

問題 #2

S. 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 Investment Advisers Act of 1940, S. White needs only to meet the net capital
requirement of Kentucky.
B. 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.
C. According to the Uniform Securities Act, S. White will have to meet Virginia's higher requirement.
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.

問題 #3

Which of the following practices would be prohibited in connection with the sale of investment company
shares?
I. selling a client shares of a load stock fund when a no load stock fund with the same investment
objective exists
II. selling the client shares of five S&P 500 Index mutual funds, offered by different fund families
III. encouraging a client to swap his money between two funds in the same family without informing him
that this creates a taxable event

A. I and III only
B. I, II, and III
C. I and II only
D. II and III only

問題 #4

Jeremy Sly considered himself somewhat of an inventor. The only problem was that his day job interfered
with his opportunity to exercise his creativity. He came up with a plan to get outside investors to support
his inventive activities. To this end, he produced and distributed a brochure advertising partnership
interests with a guaranteed return on investment of at least 15% after the first 12 months, based on what
he had allegedly generated from his other (non-existent) inventions. Given these facts, is Jeremy guilty of
any security violations under the Uniform Securities Act (USA)?

A. Yes. Even an "offer" to sell securities must not contain any untruths.
B. No. The facts don't indicate whether any partnership interests were actually sold, and there can be no
violation unless there is a sale.
C. No. It is not against the law to believe in oneself and promote one's ideas.
D. No. An interest in a partnership is not considered a security.

問題 #5

The 1988 Insider and Securities Enforcement Act indicates that a person convicted of insider trading can
be subject to which of the following penalties?

A. up to 3 years in prison, a $5,000 fine, or both
B. up to 5 years in prison and a fine of $1,500,000 or both
C. up to 7 years in prison and a fine equal to 200% of the amount of profits gained or losses avoided
D. up to 10 years in prison and a fine of $1 million or up to 3 times the amount of profits gained, or

解説：