{"id":126690,"date":"2026-05-15T07:58:22","date_gmt":"2026-05-15T07:58:22","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=126690"},"modified":"2026-05-15T07:59:32","modified_gmt":"2026-05-15T07:59:32","slug":"series-63-practice-exam-questions-in-the-uniform-securities-state-law-examination-dumps-v8-02-continue-to-read-series-63-free-dumps-part-2-q41-q80-today","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/series-63-practice-exam-questions-in-the-uniform-securities-state-law-examination-dumps-v8-02-continue-to-read-series-63-free-dumps-part-2-q41-q80-today.html","title":{"rendered":"Series 63 Practice Exam Questions in the Uniform Securities State Law Examination Dumps (V8.02) &#8211; Continue to Read Series 63 Free Dumps (Part 2, Q41-Q80) Today"},"content":{"rendered":"\n<p>DumpsBase offers the Series 63 dumps (V8.02) with 251 practice exam questions and answers, supporting you in studying the Uniform Securities State Law Examination smarter and saving valuable time. We have shared the <strong><em><a href=\"https:\/\/www.dumpsbase.com\/freedumps\/finra-series-63-exam-dumps-v8-02-with-expert-reviewed-questions-and-answers-check-series-63-free-dumps-part-1-q1-q40-first.html\">Series 63 free dumps (Part 1, Q1-Q40) of V8.02<\/a><\/em><\/strong> online. From these demo questions, you can trust that our dump questions are created to cover important exam areas and help you review more effectively. Choose Series 63 exam dumps (V8.02) to make preparations now. By reviewing all the Series 63 practice exam questions repeatedly, you can become more familiar with important concepts, question formats, and answer logic. This helps you stay calm during the Uniform Securities State Law Examination and improves your ability to make correct decisions under time pressure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Continue to read Series 63 free dumps (Part 2, Q41-Q80) of V8.02 below:<\/h2>\n\n\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam12267\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-12267\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-12267\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-479460'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Under the Uniform Securities Act, which of the following does not need to be included when filing to register a security issue with the state?<\/div><input type='hidden' name='question_id[]' id='qID_1' value='479460' \/><input type='hidden' id='answerType479460' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479460[]' id='answer-id-1852788' class='answer   answerof-479460 ' value='1852788'   \/><label for='answer-id-1852788' id='answer-label-1852788' class=' answer'><span>a copy of the firm\u2019s articles of incorporation and bylaws, or the equivalent<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479460[]' id='answer-id-1852789' class='answer   answerof-479460 ' value='1852789'   \/><label for='answer-id-1852789' id='answer-label-1852789' class=' answer'><span>copies of the underwriter agreements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479460[]' id='answer-id-1852790' class='answer   answerof-479460 ' value='1852790'   \/><label for='answer-id-1852790' id='answer-label-1852790' class=' answer'><span>a copy of any indenture applying to the security being registered<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479460[]' id='answer-id-1852791' class='answer   answerof-479460 ' value='1852791'   \/><label for='answer-id-1852791' id='answer-label-1852791' class=' answer'><span>All of the above documents must be included when filing to register a security with the state.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-479461'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>Jack Bean is employed by Giant Investment Advisers, LLC. His job duties include advising clients on the asset allocations of their portfolios. Jack Bean is<\/div><input type='hidden' name='question_id[]' id='qID_2' value='479461' \/><input type='hidden' id='answerType479461' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479461[]' id='answer-id-1852792' class='answer   answerof-479461 ' value='1852792'   \/><label for='answer-id-1852792' id='answer-label-1852792' class=' answer'><span>an investment adviser representative.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479461[]' id='answer-id-1852793' class='answer   answerof-479461 ' value='1852793'   \/><label for='answer-id-1852793' id='answer-label-1852793' class=' answer'><span>an investment adviser.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479461[]' id='answer-id-1852794' class='answer   answerof-479461 ' value='1852794'   \/><label for='answer-id-1852794' id='answer-label-1852794' class=' answer'><span>an administrative assistant.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479461[]' id='answer-id-1852795' class='answer   answerof-479461 ' value='1852795'   \/><label for='answer-id-1852795' id='answer-label-1852795' class=' answer'><span>an agent.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-479462'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Assuming there is not a stop order or a proceeding pending, under the registration by coordination process a security\u2019s registration with the state becomes effective:<\/div><input type='hidden' name='question_id[]' id='qID_3' value='479462' \/><input type='hidden' id='answerType479462' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479462[]' id='answer-id-1852796' class='answer   answerof-479462 ' value='1852796'   \/><label for='answer-id-1852796' id='answer-label-1852796' class=' answer'><span>only when it is approved by the state Administrator, regardless of whether it has been approved by the SE<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479462[]' id='answer-id-1852797' class='answer   answerof-479462 ' value='1852797'   \/><label for='answer-id-1852797' id='answer-label-1852797' class=' answer'><span>immediately after approval by the SEC as long as the registration statement has been on file for at least 20 days or the Uniform Securities Act has provided an exemption to this waiting period.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479462[]' id='answer-id-1852798' class='answer   answerof-479462 ' value='1852798'   \/><label for='answer-id-1852798' id='answer-label-1852798' class=' answer'><span>immediately subsequent to approval by the SEC, regardless of how long the registration statement has been on file.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479462[]' id='answer-id-1852799' class='answer   answerof-479462 ' value='1852799'   \/><label for='answer-id-1852799' id='answer-label-1852799' class=' answer'><span>only when it is approved by the state Administrator, who will review the registration documentation upon notification that SEC approval has been granted.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-479463'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Jack is employed by NewCorp, which is engaging in an initial public offering (IPO). Jack will need to register as a sales representative if he:<\/div><input type='hidden' name='question_id[]' id='qID_4' value='479463' \/><input type='hidden' id='answerType479463' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479463[]' id='answer-id-1852800' class='answer   answerof-479463 ' value='1852800'   \/><label for='answer-id-1852800' id='answer-label-1852800' class=' answer'><span>engages in transactions with the underwriters of the IPO for the purpose of taking the firm public.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479463[]' id='answer-id-1852801' class='answer   answerof-479463 ' value='1852801'   \/><label for='answer-id-1852801' id='answer-label-1852801' class=' answer'><span>represents NewCorp in any transactions with financial institutions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479463[]' id='answer-id-1852802' class='answer   answerof-479463 ' value='1852802'   \/><label for='answer-id-1852802' id='answer-label-1852802' class=' answer'><span>participates in the selling of the new stock to individual investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479463[]' id='answer-id-1852803' class='answer   answerof-479463 ' value='1852803'   \/><label for='answer-id-1852803' id='answer-label-1852803' class=' answer'><span>Jack will need to register as a sales representative if he performs any one of the above activities.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-479464'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>Under the 2002 Uniform Securities Act, registration by coordination allows:<\/div><input type='hidden' name='question_id[]' id='qID_5' value='479464' \/><input type='hidden' id='answerType479464' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479464[]' id='answer-id-1852804' class='answer   answerof-479464 ' value='1852804'   \/><label for='answer-id-1852804' id='answer-label-1852804' class=' answer'><span>federal covered securities to be registered simultaneously with the SEC and with the states in which the securities will be offered for sale.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479464[]' id='answer-id-1852805' class='answer   answerof-479464 ' value='1852805'   \/><label for='answer-id-1852805' id='answer-label-1852805' class=' answer'><span>securities that do not fall within the category of federal covered securities to be registered simultaneously with the SEC and with the states in which the securities will be offered for sale.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479464[]' id='answer-id-1852806' class='answer   answerof-479464 ' value='1852806'   \/><label for='answer-id-1852806' id='answer-label-1852806' class=' answer'><span>both state-registered and out-of-state investment bankers to participate in the underwriting and registration of a new security issue.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479464[]' id='answer-id-1852807' class='answer   answerof-479464 ' value='1852807'   \/><label for='answer-id-1852807' id='answer-label-1852807' class=' answer'><span>issuers of federal covered securities to submit only a notice filing with the Administrator of states in which the securities will be offered for sale.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-479465'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Which of the following entities are subject to post-registration provisions? <br \/>\r<br>I. broker-dealers <br \/>\r<br>II. agents <br \/>\r<br>III. investment advisers <br \/>\r<br>IV. investment adviser representatives<\/div><input type='hidden' name='question_id[]' id='qID_6' value='479465' \/><input type='hidden' id='answerType479465' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479465[]' id='answer-id-1852808' class='answer   answerof-479465 ' value='1852808'   \/><label for='answer-id-1852808' id='answer-label-1852808' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479465[]' id='answer-id-1852809' class='answer   answerof-479465 ' value='1852809'   \/><label for='answer-id-1852809' id='answer-label-1852809' class=' answer'><span>I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479465[]' id='answer-id-1852810' class='answer   answerof-479465 ' value='1852810'   \/><label for='answer-id-1852810' id='answer-label-1852810' class=' answer'><span>II and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479465[]' id='answer-id-1852811' class='answer   answerof-479465 ' value='1852811'   \/><label for='answer-id-1852811' id='answer-label-1852811' class=' answer'><span>All of the entities are subject to post-registration provisions.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-479466'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>Blue Sky Laws are designed to:<\/div><input type='hidden' name='question_id[]' id='qID_7' value='479466' \/><input type='hidden' id='answerType479466' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479466[]' id='answer-id-1852812' class='answer   answerof-479466 ' value='1852812'   \/><label for='answer-id-1852812' id='answer-label-1852812' class=' answer'><span>protect investors from fraud in their securities market transactions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479466[]' id='answer-id-1852813' class='answer   answerof-479466 ' value='1852813'   \/><label for='answer-id-1852813' id='answer-label-1852813' class=' answer'><span>protect agents, broker-dealers, and investment advisers and their representatives from spurious allegations of fraudulent activity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479466[]' id='answer-id-1852814' class='answer   answerof-479466 ' value='1852814'   \/><label for='answer-id-1852814' id='answer-label-1852814' class=' answer'><span>enhance the tourism industry within a state.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479466[]' id='answer-id-1852815' class='answer   answerof-479466 ' value='1852815'   \/><label for='answer-id-1852815' id='answer-label-1852815' class=' answer'><span>favor investment in companies that engage in environmentally friendly practices.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-479467'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>Which of the following persons falls under the definition of \u201cbroker-dealer,\u201d as defined by the Uniform Securities Act (USA)?<\/div><input type='hidden' name='question_id[]' id='qID_8' value='479467' \/><input type='hidden' id='answerType479467' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479467[]' id='answer-id-1852816' class='answer   answerof-479467 ' value='1852816'   \/><label for='answer-id-1852816' id='answer-label-1852816' class=' answer'><span>Marge is a loan officer at Treadwater Bank and Trust.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479467[]' id='answer-id-1852817' class='answer   answerof-479467 ' value='1852817'   \/><label for='answer-id-1852817' id='answer-label-1852817' class=' answer'><span>Juan is employed by TrustUs Corporation to sell shares of the firm\u2019s stock to the firm\u2019s employees and receives a commission on the shares he sells.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479467[]' id='answer-id-1852818' class='answer   answerof-479467 ' value='1852818'   \/><label for='answer-id-1852818' id='answer-label-1852818' class=' answer'><span>Michaela is employed by GetErDone broker-dealers and sells both exempt and non-exempt securities to GetErDone\u2019s clients.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479467[]' id='answer-id-1852819' class='answer   answerof-479467 ' value='1852819'   \/><label for='answer-id-1852819' id='answer-label-1852819' class=' answer'><span>MyTrades is a sole proprietorship owned by Nathan Newmoney, who has established the firm solely to make trades on his own account, thereby avoiding the commissions he would have to pay a middleman.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-479468'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following orders can an Administrator issue without providing prior notice?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='479468' \/><input type='hidden' id='answerType479468' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479468[]' id='answer-id-1852820' class='answer   answerof-479468 ' value='1852820'   \/><label for='answer-id-1852820' id='answer-label-1852820' class=' answer'><span>license suspension<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479468[]' id='answer-id-1852821' class='answer   answerof-479468 ' value='1852821'   \/><label for='answer-id-1852821' id='answer-label-1852821' class=' answer'><span>license revocation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479468[]' id='answer-id-1852822' class='answer   answerof-479468 ' value='1852822'   \/><label for='answer-id-1852822' id='answer-label-1852822' class=' answer'><span>cease and desist<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479468[]' id='answer-id-1852823' class='answer   answerof-479468 ' value='1852823'   \/><label for='answer-id-1852823' id='answer-label-1852823' class=' answer'><span>license denial<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-479469'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>Ms. Ding is an administrative assistant to the manager of a mutual fund. Most of her day is spent entering data onto a spreadsheet for her boss and answering phone calls. Some of the calls require her to provide information about the some of the fund\u2019s financial aspects, such as its closing net asset value on the previous day. <br \/>\r<br>What type of registration does Ms. Ding require in order to perform her duties?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='479469' \/><input type='hidden' id='answerType479469' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479469[]' id='answer-id-1852824' class='answer   answerof-479469 ' value='1852824'   \/><label for='answer-id-1852824' id='answer-label-1852824' class=' answer'><span>Ms. Ding needs to apply for registration as an agent since she is providing financial information.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479469[]' id='answer-id-1852825' class='answer   answerof-479469 ' value='1852825'   \/><label for='answer-id-1852825' id='answer-label-1852825' class=' answer'><span>Ms. Ding needs to apply for registration as an investment adviser representative since she is providing information about a specific mutual fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479469[]' id='answer-id-1852826' class='answer   answerof-479469 ' value='1852826'   \/><label for='answer-id-1852826' id='answer-label-1852826' class=' answer'><span>Ms. Ding will need to apply for registration as both an agent and an investment adviser representative in this case since she is providing information about a mutual fund.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479469[]' id='answer-id-1852827' class='answer   answerof-479469 ' value='1852827'   \/><label for='answer-id-1852827' id='answer-label-1852827' class=' answer'><span>Ms. Ding does not need to apply for any type of registration. She is merely supplying information and is not engaged in the purchase or sale of the fund shares.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-479470'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Mr. Bigwig, CEO of HiGrowth Corporation, meets with the president of BigFee Investment Bankers and arranges for BigFee to underwrite an Initial Public Offering (IPO) for the firm. <br \/>\r<br>When the IPO comes to market, GetErDone Broker-Dealers is part of the selling group, which handles the sale of the stock to the public. In this scenario, which party is the issuer?<\/div><input type='hidden' name='question_id[]' id='qID_11' value='479470' \/><input type='hidden' id='answerType479470' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479470[]' id='answer-id-1852828' class='answer   answerof-479470 ' value='1852828'   \/><label for='answer-id-1852828' id='answer-label-1852828' class=' answer'><span>HiGrowth Corporation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479470[]' id='answer-id-1852829' class='answer   answerof-479470 ' value='1852829'   \/><label for='answer-id-1852829' id='answer-label-1852829' class=' answer'><span>Mr. Bigwig<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479470[]' id='answer-id-1852830' class='answer   answerof-479470 ' value='1852830'   \/><label for='answer-id-1852830' id='answer-label-1852830' class=' answer'><span>BigFee Investment Bankers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479470[]' id='answer-id-1852831' class='answer   answerof-479470 ' value='1852831'   \/><label for='answer-id-1852831' id='answer-label-1852831' class=' answer'><span>GetErDone Broker-Dealers<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-479471'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>Which of the following securities would be exempt from state registration requirements, according to the Uniform Securities Act? <br \/>\r<br>I. a municipal bond issued by the Canadian province of Nova Scotia <br \/>\r<br>II. a bond issued by the county of Cork, Ireland <br \/>\r<br>III. a bond issued by Nationwide Insurance Company<\/div><input type='hidden' name='question_id[]' id='qID_12' value='479471' \/><input type='hidden' id='answerType479471' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479471[]' id='answer-id-1852832' class='answer   answerof-479471 ' value='1852832'   \/><label for='answer-id-1852832' id='answer-label-1852832' class=' answer'><span>All of the selections would be exempt from state registration requirements under the Uniform<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479471[]' id='answer-id-1852833' class='answer   answerof-479471 ' value='1852833'   \/><label for='answer-id-1852833' id='answer-label-1852833' class=' answer'><span>Selection I only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479471[]' id='answer-id-1852834' class='answer   answerof-479471 ' value='1852834'   \/><label for='answer-id-1852834' id='answer-label-1852834' class=' answer'><span>Selection I and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479471[]' id='answer-id-1852835' class='answer   answerof-479471 ' value='1852835'   \/><label for='answer-id-1852835' id='answer-label-1852835' class=' answer'><span>Selection III only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-479472'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Ari Gaunt is employed by a small state-registered broker-dealer and has recently received notification that his application to be a registered agent of the state has been accepted. Now that he is licensed to execute transactions for the firm\u2019s clients, Ari has a batch of business cards printed up, with a picture of himself on the right-hand side of the card. Underneath the picture is the caption, \u201cState-Approved Agent.\u201d <br \/>\r<br>Will Ari be violating any securities laws if he distributes these business cards?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='479472' \/><input type='hidden' id='answerType479472' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479472[]' id='answer-id-1852836' class='answer   answerof-479472 ' value='1852836'   \/><label for='answer-id-1852836' id='answer-label-1852836' class=' answer'><span>No. However, he may be violating company policy of the broker-dealer he works for by designing his own cards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479472[]' id='answer-id-1852837' class='answer   answerof-479472 ' value='1852837'   \/><label for='answer-id-1852837' id='answer-label-1852837' class=' answer'><span>No. His registration with the Administrator of the state has been accepted, so he is entitled to call himself a \u201cState-Approved Agent.\u201d<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479472[]' id='answer-id-1852838' class='answer   answerof-479472 ' value='1852838'   \/><label for='answer-id-1852838' id='answer-label-1852838' class=' answer'><span>Yes. Agents are not permitted to include a picture of themselves on their business cards.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479472[]' id='answer-id-1852839' class='answer   answerof-479472 ' value='1852839'   \/><label for='answer-id-1852839' id='answer-label-1852839' class=' answer'><span>Yes. It is a violation of a securities law to suggest that he has been approved by the state Administrator.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-479473'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Which of the following constitutes a non-punitive order?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='479473' \/><input type='hidden' id='answerType479473' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479473[]' id='answer-id-1852840' class='answer   answerof-479473 ' value='1852840'   \/><label for='answer-id-1852840' id='answer-label-1852840' class=' answer'><span>summary license suspension<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479473[]' id='answer-id-1852841' class='answer   answerof-479473 ' value='1852841'   \/><label for='answer-id-1852841' id='answer-label-1852841' class=' answer'><span>registration cancellation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479473[]' id='answer-id-1852842' class='answer   answerof-479473 ' value='1852842'   \/><label for='answer-id-1852842' id='answer-label-1852842' class=' answer'><span>registration denial<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479473[]' id='answer-id-1852843' class='answer   answerof-479473 ' value='1852843'   \/><label for='answer-id-1852843' id='answer-label-1852843' class=' answer'><span>All of the above are punitive orders.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-479474'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>Ms. Muffet is employed by Spyder Broker-Dealers. Her job duties include providing price quotes and executing purchases and sales for the firm\u2019s clients. She is paid a salary plus commission. Ms. Muffet is<\/div><input type='hidden' name='question_id[]' id='qID_15' value='479474' \/><input type='hidden' id='answerType479474' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479474[]' id='answer-id-1852844' class='answer   answerof-479474 ' value='1852844'   \/><label for='answer-id-1852844' id='answer-label-1852844' class=' answer'><span>a broker-dealer.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479474[]' id='answer-id-1852845' class='answer   answerof-479474 ' value='1852845'   \/><label for='answer-id-1852845' id='answer-label-1852845' class=' answer'><span>an agent.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479474[]' id='answer-id-1852846' class='answer   answerof-479474 ' value='1852846'   \/><label for='answer-id-1852846' id='answer-label-1852846' class=' answer'><span>an investment adviser.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479474[]' id='answer-id-1852847' class='answer   answerof-479474 ' value='1852847'   \/><label for='answer-id-1852847' id='answer-label-1852847' class=' answer'><span>an investment adviser representative.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-479475'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Iggy recently started his own company. He soon discovered it required more cash to keep it going than he had anticipated. He ran an ad in the local paper for investors and got a response. He found a template for a promissory note on the internet, filled in the requisite information specific to the agreement he and the investor had worked out, and printed it out. On it, he promised to make monthly interest payments of 2% on the loan and to repay the principal amount at the end of 18 months. A few months after the arrangement, Iggy read an article in a small business publication that indicated that promissory notes had to be registered with the state unless they were sold in an exempt transaction, such as one enacted with a financial institution, prior to being offered for sale. The article indicated that a seller who had sold an unregistered note in error could remedy the situation by sending the buyer a formal offer to buy the security back, with interest. Iggy turned to the computer once again, found a form that could be used for a formal offer of rescission, filled it out, and sent it to the investor. Having done this,<\/div><input type='hidden' name='question_id[]' id='qID_16' value='479475' \/><input type='hidden' id='answerType479475' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479475[]' id='answer-id-1852848' class='answer   answerof-479475 ' value='1852848'   \/><label for='answer-id-1852848' id='answer-label-1852848' class=' answer'><span>Iggy cannot be sued for civil damages if the investor fails to respond to the offer within 30 days.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479475[]' id='answer-id-1852849' class='answer   answerof-479475 ' value='1852849'   \/><label for='answer-id-1852849' id='answer-label-1852849' class=' answer'><span>Iggy must follow up with a second notice sent via registered mail if he has not heard from the investor within 30 days.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479475[]' id='answer-id-1852850' class='answer   answerof-479475 ' value='1852850'   \/><label for='answer-id-1852850' id='answer-label-1852850' class=' answer'><span>Iggy must wait 6 months for a response from the investor. If no response is received by the end of 6 months, Iggy is off the hook.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479475[]' id='answer-id-1852851' class='answer   answerof-479475 ' value='1852851'   \/><label for='answer-id-1852851' id='answer-label-1852851' class=' answer'><span>Iggy will not be assessed any penalties by the Administrator of the state, but the investor can still sue for damages in civil court.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-479476'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Which of the following is not a security, as defined by the Uniform Securities Act? <br \/>\r<br>I. an option contract <br \/>\r<br>II. a futures contract on gold <br \/>\r<br>III. a 401K plan <br \/>\r<br>IV. a variable annuity<\/div><input type='hidden' name='question_id[]' id='qID_17' value='479476' \/><input type='hidden' id='answerType479476' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479476[]' id='answer-id-1852852' class='answer   answerof-479476 ' value='1852852'   \/><label for='answer-id-1852852' id='answer-label-1852852' class=' answer'><span>None of the selections listed are securities.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479476[]' id='answer-id-1852853' class='answer   answerof-479476 ' value='1852853'   \/><label for='answer-id-1852853' id='answer-label-1852853' class=' answer'><span>Only Selection III is not a security.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479476[]' id='answer-id-1852854' class='answer   answerof-479476 ' value='1852854'   \/><label for='answer-id-1852854' id='answer-label-1852854' class=' answer'><span>Only Selections II and III are not securities.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479476[]' id='answer-id-1852855' class='answer   answerof-479476 ' value='1852855'   \/><label for='answer-id-1852855' id='answer-label-1852855' class=' answer'><span>Selections II, III and IV are not securities.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-479477'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>Individual states are prohibited from requiring a broker-dealer or investment adviser to file financial reports more frequently than:<\/div><input type='hidden' name='question_id[]' id='qID_18' value='479477' \/><input type='hidden' id='answerType479477' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479477[]' id='answer-id-1852856' class='answer   answerof-479477 ' value='1852856'   \/><label for='answer-id-1852856' id='answer-label-1852856' class=' answer'><span>once a year.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479477[]' id='answer-id-1852857' class='answer   answerof-479477 ' value='1852857'   \/><label for='answer-id-1852857' id='answer-label-1852857' class=' answer'><span>twice a year.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479477[]' id='answer-id-1852858' class='answer   answerof-479477 ' value='1852858'   \/><label for='answer-id-1852858' id='answer-label-1852858' class=' answer'><span>four times a year.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479477[]' id='answer-id-1852859' class='answer   answerof-479477 ' value='1852859'   \/><label for='answer-id-1852859' id='answer-label-1852859' class=' answer'><span>twelve times a year.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-479478'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>In order to maintain its registration with a state, a broker-dealer may be required to: <br \/>\r<br>I. take a written or oral exam. <br \/>\r<br>II. pay an annual filing fee. <br \/>\r<br>III. maintain a minimum net capital. <br \/>\r<br>IV. file all advertising material with the Administrator.<\/div><input type='hidden' name='question_id[]' id='qID_19' value='479478' \/><input type='hidden' id='answerType479478' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479478[]' id='answer-id-1852860' class='answer   answerof-479478 ' value='1852860'   \/><label for='answer-id-1852860' id='answer-label-1852860' class=' answer'><span>I and II only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479478[]' id='answer-id-1852861' class='answer   answerof-479478 ' value='1852861'   \/><label for='answer-id-1852861' id='answer-label-1852861' class=' answer'><span>II and III only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479478[]' id='answer-id-1852862' class='answer   answerof-479478 ' value='1852862'   \/><label for='answer-id-1852862' id='answer-label-1852862' class=' answer'><span>II, III, and IV only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479478[]' id='answer-id-1852863' class='answer   answerof-479478 ' value='1852863'   \/><label for='answer-id-1852863' id='answer-label-1852863' class=' answer'><span>I, II, III, and IV<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-479479'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Which of the following securities would not necessarily be exempt from state registration?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='479479' \/><input type='hidden' id='answerType479479' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479479[]' id='answer-id-1852864' class='answer   answerof-479479 ' value='1852864'   \/><label for='answer-id-1852864' id='answer-label-1852864' class=' answer'><span>a stock listed on the Tokyo Stock Exchange<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479479[]' id='answer-id-1852865' class='answer   answerof-479479 ' value='1852865'   \/><label for='answer-id-1852865' id='answer-label-1852865' class=' answer'><span>a bond guaranteed by the Canadian government<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479479[]' id='answer-id-1852866' class='answer   answerof-479479 ' value='1852866'   \/><label for='answer-id-1852866' id='answer-label-1852866' class=' answer'><span>a bond issued by another state\u2019s employees\u2019 credit union<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479479[]' id='answer-id-1852867' class='answer   answerof-479479 ' value='1852867'   \/><label for='answer-id-1852867' id='answer-label-1852867' class=' answer'><span>a stock listed as a NASDAQ National Market Issue.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-479480'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Moe is a registered investment adviser doing business under the name of MoeMoney Investment Advisers, LLC. Larry, Curly, and Mary all hold positions with the firm. Larry is on the board of directors; Mary is a sales representative for the firm; and Curly is an administrative assistant, who performs clerical duties. <br \/>\r<br>Given that Moe is already a registered investment adviser, which of the other three are automatically registered as investment adviser representatives?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='479480' \/><input type='hidden' id='answerType479480' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479480[]' id='answer-id-1852868' class='answer   answerof-479480 ' value='1852868'   \/><label for='answer-id-1852868' id='answer-label-1852868' class=' answer'><span>Larry only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479480[]' id='answer-id-1852869' class='answer   answerof-479480 ' value='1852869'   \/><label for='answer-id-1852869' id='answer-label-1852869' class=' answer'><span>Larry and Mary only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479480[]' id='answer-id-1852870' class='answer   answerof-479480 ' value='1852870'   \/><label for='answer-id-1852870' id='answer-label-1852870' class=' answer'><span>Larry, Mary and Curly<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479480[]' id='answer-id-1852871' class='answer   answerof-479480 ' value='1852871'   \/><label for='answer-id-1852871' id='answer-label-1852871' class=' answer'><span>Mary and Curly only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-479481'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Broker-dealer Nebulous opted to withdraw its registration with the state. Six months later, the Administrator finds that Nebulous had been engaged in fraudulent securities transactions. <br \/>\r<br>Which of the following statements is true?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='479481' \/><input type='hidden' id='answerType479481' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479481[]' id='answer-id-1852872' class='answer   answerof-479481 ' value='1852872'   \/><label for='answer-id-1852872' id='answer-label-1852872' class=' answer'><span>The Administrator is unable to take disciplinary action against Nebulous because the self-initiated withdrawal became effective 30 days after the application was filed.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479481[]' id='answer-id-1852873' class='answer   answerof-479481 ' value='1852873'   \/><label for='answer-id-1852873' id='answer-label-1852873' class=' answer'><span>The Administrator is only able to take disciplinary action if the misdeeds are discovered within three months of the effective date of the withdrawal, so Nebulous slipped by this time.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479481[]' id='answer-id-1852874' class='answer   answerof-479481 ' value='1852874'   \/><label for='answer-id-1852874' id='answer-label-1852874' class=' answer'><span>The Administrator has five years from the discovery of the misdeed to take disciplinary action, so Nebulous will have to be on the lookout for a long time to come.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479481[]' id='answer-id-1852875' class='answer   answerof-479481 ' value='1852875'   \/><label for='answer-id-1852875' id='answer-label-1852875' class=' answer'><span>The Administrator can take disciplinary action against Nebulous for up to one year, so Nebulous is in trouble.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-479482'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Nancy\u2019s Aunt Ethel died, making Nancy executrix of her estate. In going through Aunt Ethel\u2019s belongings, Nancy discovered some stock certificates that she learned had been issued by a small New Jersey firm that was still in business. The problem lay in the fact that Nancy\u2019s Aunt Ethel had moved from New Jersey to Florida years ago, and the stock is registered only in the state of New Jersey. Nancy herself is a resident of Massachusetts. <br \/>\r<br>What does Nancy have to do in order to sell this stock?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='479482' \/><input type='hidden' id='answerType479482' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479482[]' id='answer-id-1852876' class='answer   answerof-479482 ' value='1852876'   \/><label for='answer-id-1852876' id='answer-label-1852876' class=' answer'><span>Nancy can sell the stock without a problem as executrix of her aunt\u2019s estate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479482[]' id='answer-id-1852877' class='answer   answerof-479482 ' value='1852877'   \/><label for='answer-id-1852877' id='answer-label-1852877' class=' answer'><span>Nancy will need to contact a securities law firm in Florida to help her register the stock in the state of Florida.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479482[]' id='answer-id-1852878' class='answer   answerof-479482 ' value='1852878'   \/><label for='answer-id-1852878' id='answer-label-1852878' class=' answer'><span>Nancy will need to contact a broker-dealer licensed in the state of New Jersey to help her with the sale of this stock.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479482[]' id='answer-id-1852879' class='answer   answerof-479482 ' value='1852879'   \/><label for='answer-id-1852879' id='answer-label-1852879' class=' answer'><span>Nancy will have to establish a mailing address in New Jersey before she can legally sell this stock.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-479483'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Although an Administrator has broad powers, he or she cannot:<\/div><input type='hidden' name='question_id[]' id='qID_24' value='479483' \/><input type='hidden' id='answerType479483' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479483[]' id='answer-id-1852880' class='answer   answerof-479483 ' value='1852880'   \/><label for='answer-id-1852880' id='answer-label-1852880' class=' answer'><span>issue subpoenas involving compulsory attendance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479483[]' id='answer-id-1852881' class='answer   answerof-479483 ' value='1852881'   \/><label for='answer-id-1852881' id='answer-label-1852881' class=' answer'><span>gather evidence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479483[]' id='answer-id-1852882' class='answer   answerof-479483 ' value='1852882'   \/><label for='answer-id-1852882' id='answer-label-1852882' class=' answer'><span>deliver a judicial injunction.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479483[]' id='answer-id-1852883' class='answer   answerof-479483 ' value='1852883'   \/><label for='answer-id-1852883' id='answer-label-1852883' class=' answer'><span>formulate rules and orders.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-479484'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>An investment adviser <br \/>\r<br>I. provides investment advice to clients. <br \/>\r<br>II. sells securities to clients. <br \/>\r<br>III. buys and sells securities in their clients\u2019 accounts for the clients.<\/div><input type='hidden' name='question_id[]' id='qID_25' value='479484' \/><input type='hidden' id='answerType479484' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479484[]' id='answer-id-1852884' class='answer   answerof-479484 ' value='1852884'   \/><label for='answer-id-1852884' id='answer-label-1852884' class=' answer'><span>I only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479484[]' id='answer-id-1852885' class='answer   answerof-479484 ' value='1852885'   \/><label for='answer-id-1852885' id='answer-label-1852885' class=' answer'><span>I and II only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479484[]' id='answer-id-1852886' class='answer   answerof-479484 ' value='1852886'   \/><label for='answer-id-1852886' id='answer-label-1852886' class=' answer'><span>I and III only.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479484[]' id='answer-id-1852887' class='answer   answerof-479484 ' value='1852887'   \/><label for='answer-id-1852887' id='answer-label-1852887' class=' answer'><span>I, II, and II<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-479485'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Which of the following persons would not be required to register with the state as an agent under the guidelines of the Uniform Securities Act (USA)?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='479485' \/><input type='hidden' id='answerType479485' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479485[]' id='answer-id-1852888' class='answer   answerof-479485 ' value='1852888'   \/><label for='answer-id-1852888' id='answer-label-1852888' class=' answer'><span>Keith is a salaried employee of Middlesex County in Massachusetts who sells revenue bonds issued by the county to the public.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479485[]' id='answer-id-1852889' class='answer   answerof-479485 ' value='1852889'   \/><label for='answer-id-1852889' id='answer-label-1852889' class=' answer'><span>John is employed by TrustUs Corporation to sell shares of the firm\u2019s stock to the firm\u2019s employees and receives a commission on the shares he sells.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479485[]' id='answer-id-1852890' class='answer   answerof-479485 ' value='1852890'   \/><label for='answer-id-1852890' id='answer-label-1852890' class=' answer'><span>Stefan is a sales representative for SecureMoney Broker-Dealers and sells only mutual fund shares.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479485[]' id='answer-id-1852891' class='answer   answerof-479485 ' value='1852891'   \/><label for='answer-id-1852891' id='answer-label-1852891' class=' answer'><span>Preetham is part-owner of SecureMoney Broker-Dealers and executes the purchase and sale of securities for the firm\u2019s customers.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-479486'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Barring no irregularities (such as a license revocation by another state last year), after you have filed for registration as an agent, your license will be granted within<\/div><input type='hidden' name='question_id[]' id='qID_27' value='479486' \/><input type='hidden' id='answerType479486' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479486[]' id='answer-id-1852892' class='answer   answerof-479486 ' value='1852892'   \/><label for='answer-id-1852892' id='answer-label-1852892' class=' answer'><span>10 business days.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479486[]' id='answer-id-1852893' class='answer   answerof-479486 ' value='1852893'   \/><label for='answer-id-1852893' id='answer-label-1852893' class=' answer'><span>14 business days.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479486[]' id='answer-id-1852894' class='answer   answerof-479486 ' value='1852894'   \/><label for='answer-id-1852894' id='answer-label-1852894' class=' answer'><span>30 days.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479486[]' id='answer-id-1852895' class='answer   answerof-479486 ' value='1852895'   \/><label for='answer-id-1852895' id='answer-label-1852895' class=' answer'><span>45 days.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-479487'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Which of the following statements regarding \u201cregistration by qualification\u201d is true?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='479487' \/><input type='hidden' id='answerType479487' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479487[]' id='answer-id-1852896' class='answer   answerof-479487 ' value='1852896'   \/><label for='answer-id-1852896' id='answer-label-1852896' class=' answer'><span>Registration by qualification refers to the fact that certain categories of securities are exempt from state registration requirements.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479487[]' id='answer-id-1852897' class='answer   answerof-479487 ' value='1852897'   \/><label for='answer-id-1852897' id='answer-label-1852897' class=' answer'><span>Registration by qualification is the preferred method used by issuers since it requires the least amount of paperwork.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479487[]' id='answer-id-1852898' class='answer   answerof-479487 ' value='1852898'   \/><label for='answer-id-1852898' id='answer-label-1852898' class=' answer'><span>In its simplest form, registration by qualification requires the issuer to supply voluminous amounts of information about both the firm and its directors, officers, and major shareholders.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479487[]' id='answer-id-1852899' class='answer   answerof-479487 ' value='1852899'   \/><label for='answer-id-1852899' id='answer-label-1852899' class=' answer'><span>Registration by qualification refers to the fact that the highest quality bonds,<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479487[]' id='answer-id-1852900' class='answer   answerof-479487 ' value='1852900'   \/><label for='answer-id-1852900' id='answer-label-1852900' class=' answer'><span>e., those with a AAA rating, are exempt from registration with the state.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-479488'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>Trevor is currently a registered agent in the state of Connecticut where he has been employed by Connect &amp; Company, a broker-dealer that is registered in Connecticut and has subsidiary operations in Massachusetts, New Jersey, and New York. Trevor has moved to Massachusetts and is now associated with one of Connect\u2019s subsidiaries, a broker-dealer registered in the state. Trevor has applied to the Administrator of Massachusetts for registration as an agent. <br \/>\r<br>Can Trevor execute purchases and sales for clients while his registration is still pending?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='479488' \/><input type='hidden' id='answerType479488' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479488[]' id='answer-id-1852901' class='answer   answerof-479488 ' value='1852901'   \/><label for='answer-id-1852901' id='answer-label-1852901' class=' answer'><span>No. Until he is informed by the Administrator of Massachusetts that his application has been accepted, Trevor may not affect any securities transactions in Massachusetts.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479488[]' id='answer-id-1852902' class='answer   answerof-479488 ' value='1852902'   \/><label for='answer-id-1852902' id='answer-label-1852902' class=' answer'><span>Yes. Because Trevor is a registered agent in another state and is affiliated with a broker-dealer that is registered in the state of Massachusetts, he is not restricted from executing trades.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479488[]' id='answer-id-1852903' class='answer   answerof-479488 ' value='1852903'   \/><label for='answer-id-1852903' id='answer-label-1852903' class=' answer'><span>Yes. Trevor can execute trades for new clients he solicits, but only for sixty days while his registration is pending.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479488[]' id='answer-id-1852904' class='answer   answerof-479488 ' value='1852904'   \/><label for='answer-id-1852904' id='answer-label-1852904' class=' answer'><span>It depends. Trevor can execute some purchases and sales, but only for clients that he already had who may have recently relocated to Massachusetts and only for sixty days while his registration is pending.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-479489'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>An arrangement wherein a terminally ill person sells a second party his life insurance policy at a discount from its face value, giving the buyer the right to the policy\u2019s face value when the seller dies is called a:<\/div><input type='hidden' name='question_id[]' id='qID_30' value='479489' \/><input type='hidden' id='answerType479489' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479489[]' id='answer-id-1852905' class='answer   answerof-479489 ' value='1852905'   \/><label for='answer-id-1852905' id='answer-label-1852905' class=' answer'><span>death warrant.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479489[]' id='answer-id-1852906' class='answer   answerof-479489 ' value='1852906'   \/><label for='answer-id-1852906' id='answer-label-1852906' class=' answer'><span>viatical settlement.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479489[]' id='answer-id-1852907' class='answer   answerof-479489 ' value='1852907'   \/><label for='answer-id-1852907' id='answer-label-1852907' class=' answer'><span>deceased option.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479489[]' id='answer-id-1852908' class='answer   answerof-479489 ' value='1852908'   \/><label for='answer-id-1852908' id='answer-label-1852908' class=' answer'><span>life straddle.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-479490'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Rich Quick is a broker-dealer licensed in the state of Massachusetts and has offices only within the state. Two of Rich Quick\u2019s clients regularly vacation in Florida during the winter months, and Rich Quick executes trades for them when they call him from out-of-state. <br \/>\r<br>Based on these facts, <br \/>\r<br>I. Rich Quick needs to register as a broker-dealer in the state of Florida as well. <br \/>\r<br>II. Rich Quick needs to register only as an agent in the state of Florida. <br \/>\r<br>III. Rich Quick needs to establish an office in the state of Florida in order to transact business. IV. Rich Quick need not register in Florida.<\/div><input type='hidden' name='question_id[]' id='qID_31' value='479490' \/><input type='hidden' id='answerType479490' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479490[]' id='answer-id-1852909' class='answer   answerof-479490 ' value='1852909'   \/><label for='answer-id-1852909' id='answer-label-1852909' class=' answer'><span>Statements I and III are true.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479490[]' id='answer-id-1852910' class='answer   answerof-479490 ' value='1852910'   \/><label for='answer-id-1852910' id='answer-label-1852910' class=' answer'><span>Statements II and III are true.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479490[]' id='answer-id-1852911' class='answer   answerof-479490 ' value='1852911'   \/><label for='answer-id-1852911' id='answer-label-1852911' class=' answer'><span>Only Statement I is true.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479490[]' id='answer-id-1852912' class='answer   answerof-479490 ' value='1852912'   \/><label for='answer-id-1852912' id='answer-label-1852912' class=' answer'><span>Only Statement IV is true.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-479491'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>Which of the following would be considered an \u201cissuer\u201d transaction?<\/div><input type='hidden' name='question_id[]' id='qID_32' value='479491' \/><input type='hidden' id='answerType479491' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479491[]' id='answer-id-1852913' class='answer   answerof-479491 ' value='1852913'   \/><label for='answer-id-1852913' id='answer-label-1852913' class=' answer'><span>Jacob calls his broker and places an order to purchase 100 shares of Hasbro, Inc. on the open market.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479491[]' id='answer-id-1852914' class='answer   answerof-479491 ' value='1852914'   \/><label for='answer-id-1852914' id='answer-label-1852914' class=' answer'><span>Maria purchases 500 shares of Dodge and Cox\u2019s International Fund, a mutual fund investing in foreign securities.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479491[]' id='answer-id-1852915' class='answer   answerof-479491 ' value='1852915'   \/><label for='answer-id-1852915' id='answer-label-1852915' class=' answer'><span>Kim sells an AT&amp;T bond she holds that still has three years remaining to maturity.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479491[]' id='answer-id-1852916' class='answer   answerof-479491 ' value='1852916'   \/><label for='answer-id-1852916' id='answer-label-1852916' class=' answer'><span>None of the above is an \u201cissuer\u201d transaction.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-479492'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>A \u201cnotice filing\u201d refers to<\/div><input type='hidden' name='question_id[]' id='qID_33' value='479492' \/><input type='hidden' id='answerType479492' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479492[]' id='answer-id-1852917' class='answer   answerof-479492 ' value='1852917'   \/><label for='answer-id-1852917' id='answer-label-1852917' class=' answer'><span>the right of an issuer to run tombstone ads in the newspapers and other publications upon filing a registration application with the state Administrator.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479492[]' id='answer-id-1852918' class='answer   answerof-479492 ' value='1852918'   \/><label for='answer-id-1852918' id='answer-label-1852918' class=' answer'><span>the filing by a federal covered investment adviser of forms already filed with the SEC along with a consent to service of process with the state Administrator.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479492[]' id='answer-id-1852919' class='answer   answerof-479492 ' value='1852919'   \/><label for='answer-id-1852919' id='answer-label-1852919' class=' answer'><span>a document that the issuer must file with the SEC informing the SEC that the firm has applied to the state for registration of its new security.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479492[]' id='answer-id-1852920' class='answer   answerof-479492 ' value='1852920'   \/><label for='answer-id-1852920' id='answer-label-1852920' class=' answer'><span>notification to the public by the issuer or its underwriters that the issue is being sold on an \u201call or nothing\u201d basis.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-479493'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Which of the following is not in itself a reason for the Administrator to deny, suspend, or revoke the license of a person?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='479493' \/><input type='hidden' id='answerType479493' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479493[]' id='answer-id-1852921' class='answer   answerof-479493 ' value='1852921'   \/><label for='answer-id-1852921' id='answer-label-1852921' class=' answer'><span>The applicant has never before worked in the securities industry although he has received the requisite training.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479493[]' id='answer-id-1852922' class='answer   answerof-479493 ' value='1852922'   \/><label for='answer-id-1852922' id='answer-label-1852922' class=' answer'><span>Some of the information supplied on the registration application was found to be false.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479493[]' id='answer-id-1852923' class='answer   answerof-479493 ' value='1852923'   \/><label for='answer-id-1852923' id='answer-label-1852923' class=' answer'><span>The person has been convicted of check kiting within the past ten years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479493[]' id='answer-id-1852924' class='answer   answerof-479493 ' value='1852924'   \/><label for='answer-id-1852924' id='answer-label-1852924' class=' answer'><span>The person is a broker-dealer whose agents have repeatedly been accused of churning and burning, according to written client complaints.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-479494'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Which of the following is not a method that can be used to register securities with the state?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='479494' \/><input type='hidden' id='answerType479494' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479494[]' id='answer-id-1852925' class='answer   answerof-479494 ' value='1852925'   \/><label for='answer-id-1852925' id='answer-label-1852925' class=' answer'><span>registration by exception<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479494[]' id='answer-id-1852926' class='answer   answerof-479494 ' value='1852926'   \/><label for='answer-id-1852926' id='answer-label-1852926' class=' answer'><span>registration by notification<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479494[]' id='answer-id-1852927' class='answer   answerof-479494 ' value='1852927'   \/><label for='answer-id-1852927' id='answer-label-1852927' class=' answer'><span>registration by coordination<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479494[]' id='answer-id-1852928' class='answer   answerof-479494 ' value='1852928'   \/><label for='answer-id-1852928' id='answer-label-1852928' class=' answer'><span>registration by qualification<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-479495'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Harry Lange manages the investment portfolio for the Fidelity Magellan Mutual Fund. Mr. Lange is a(n)<\/div><input type='hidden' name='question_id[]' id='qID_36' value='479495' \/><input type='hidden' id='answerType479495' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479495[]' id='answer-id-1852929' class='answer   answerof-479495 ' value='1852929'   \/><label for='answer-id-1852929' id='answer-label-1852929' class=' answer'><span>broker-dealer.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479495[]' id='answer-id-1852930' class='answer   answerof-479495 ' value='1852930'   \/><label for='answer-id-1852930' id='answer-label-1852930' class=' answer'><span>agent.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479495[]' id='answer-id-1852931' class='answer   answerof-479495 ' value='1852931'   \/><label for='answer-id-1852931' id='answer-label-1852931' class=' answer'><span>investment adviser.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479495[]' id='answer-id-1852932' class='answer   answerof-479495 ' value='1852932'   \/><label for='answer-id-1852932' id='answer-label-1852932' class=' answer'><span>investment company.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-479496'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Broker-Dealer Wheeler has no offices in the state. Wheeler does, however, sell corporate bonds from his portfolio to banks and insurance companies located in the state that purchase the bonds for their investment portfolios. He executes about twelve of these transactions a year. Wheeler profits from the price appreciation of the bonds during the time he held them, but receives no other form of compensation. Based on these facts,<\/div><input type='hidden' name='question_id[]' id='qID_37' value='479496' \/><input type='hidden' id='answerType479496' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479496[]' id='answer-id-1852933' class='answer   answerof-479496 ' value='1852933'   \/><label for='answer-id-1852933' id='answer-label-1852933' class=' answer'><span>Wheeler must register as a broker-dealer in the state, but the securities do not need to be registered.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479496[]' id='answer-id-1852934' class='answer   answerof-479496 ' value='1852934'   \/><label for='answer-id-1852934' id='answer-label-1852934' class=' answer'><span>Wheeler need not register in the state, and the securities are also exempt from registration.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479496[]' id='answer-id-1852935' class='answer   answerof-479496 ' value='1852935'   \/><label for='answer-id-1852935' id='answer-label-1852935' class=' answer'><span>Wheeler must register as a broker-dealer in the state, and the securities must also be registered before they can be sold to in-state investors.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479496[]' id='answer-id-1852936' class='answer   answerof-479496 ' value='1852936'   \/><label for='answer-id-1852936' id='answer-label-1852936' class=' answer'><span>Wheeler need not register in the state, but the securities must be registered before they can be sold to in-state investors.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-479497'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>Which of the following statements about agents is (are) false?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='479497' \/><input type='hidden' id='answerType479497' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479497[]' id='answer-id-1852937' class='answer   answerof-479497 ' value='1852937'   \/><label for='answer-id-1852937' id='answer-label-1852937' class=' answer'><span>If an agent files for bankruptcy, the Administrator may elect to terminate that agent\u2019s registration if the Administrator believes it is \u201cin the public interest\u201d to do so.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479497[]' id='answer-id-1852938' class='answer   answerof-479497 ' value='1852938'   \/><label for='answer-id-1852938' id='answer-label-1852938' class=' answer'><span>When an agent has a change of address, both he and his broker-dealer affiliate must inform the Administrator.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479497[]' id='answer-id-1852939' class='answer   answerof-479497 ' value='1852939'   \/><label for='answer-id-1852939' id='answer-label-1852939' class=' answer'><span>An agent must demonstrate a specific minimum level of financial stability for his registration application to be accepted.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479497[]' id='answer-id-1852940' class='answer   answerof-479497 ' value='1852940'   \/><label for='answer-id-1852940' id='answer-label-1852940' class=' answer'><span>All of the above are false statements.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-479498'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Fly-By-Night Investment Advisers has closed its doors. <br \/>\r<br>Which of the following statements is true?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='479498' \/><input type='hidden' id='answerType479498' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479498[]' id='answer-id-1852941' class='answer   answerof-479498 ' value='1852941'   \/><label for='answer-id-1852941' id='answer-label-1852941' class=' answer'><span>Fly-By-Night is required to shred all documentation of client transactions and communications.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479498[]' id='answer-id-1852942' class='answer   answerof-479498 ' value='1852942'   \/><label for='answer-id-1852942' id='answer-label-1852942' class=' answer'><span>Fly-By-Night must send all records of client transactions and communications to the state Administrator for safekeeping.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479498[]' id='answer-id-1852943' class='answer   answerof-479498 ' value='1852943'   \/><label for='answer-id-1852943' id='answer-label-1852943' class=' answer'><span>Fly-By-Night must preserve and maintain all records, including client transactions and communications, advertising materials, and financial statements of the now-defunct business for five years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479498[]' id='answer-id-1852944' class='answer   answerof-479498 ' value='1852944'   \/><label for='answer-id-1852944' id='answer-label-1852944' class=' answer'><span>Fly-By-Night must send each of its former clients its records of all that client\u2019s transactions and communications with the firm over the past five years.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-479499'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Under the Uniform Securities Act (USA), which of the following statements would be disallowed?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='479499' \/><input type='hidden' id='answerType479499' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479499[]' id='answer-id-1852945' class='answer   answerof-479499 ' value='1852945'   \/><label for='answer-id-1852945' id='answer-label-1852945' class=' answer'><span>The government of the<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479499[]' id='answer-id-1852946' class='answer   answerof-479499 ' value='1852946'   \/><label for='answer-id-1852946' id='answer-label-1852946' class=' answer'><span>guarantees a 3% interest rate, to be paid semiannually, on a new 5-year Treasury note.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479499[]' id='answer-id-1852947' class='answer   answerof-479499 ' value='1852947'   \/><label for='answer-id-1852947' id='answer-label-1852947' class=' answer'><span>A sales representative of GetErDone Broker-Dealers guarantees that a client can expect an average annual rate of return of 2% on a mutual fund investment the sales representative is selling, pointing to the fact that the fund has returned an average annual rate of return of 6% over the past ten years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479499[]' id='answer-id-1852948' class='answer   answerof-479499 ' value='1852948'   \/><label for='answer-id-1852948' id='answer-label-1852948' class=' answer'><span>An insurance company guarantees a fixed payment of $300 a month for life on an annuity it is selling.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-479499[]' id='answer-id-1852949' class='answer   answerof-479499 ' value='1852949'   \/><label for='answer-id-1852949' id='answer-label-1852949' class=' answer'><span>Neither the statements in Selections B or C would be allowed under the guidelines of the Uniform Securities Act.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-41'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons12267\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" name=\"action\" class=\"watupro-submit-button\" onclick=\"WatuPRO.submitResult(event)\" id=\"action-button\" value=\"View Results\"  \/>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\n\t<input type=\"hidden\" name=\"quiz_id\" value=\"12267\" id=\"watuPROExamID\"\/>\n\t<input type=\"hidden\" name=\"start_time\" id=\"startTime\" value=\"2026-05-15 10:15:51\" \/>\n\t<input type=\"hidden\" name=\"start_timestamp\" 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