Free FINRA Series_63 Practice Test & Real Exam Questions

D. Vious and Associates is a small broker-dealer trying to generate more business. To this end, the firm
had a professional four-color brochure printed that provides the years of industry experience of its
management along with other information. The firm's founder, Ms. D. Vious, is listed as having over 30
years of experience in the industry. Ms. D. Vious has worked for broker-dealers for over 30 years, but for
2 0 of those 30 years, she was a secretary. Has D. Vious violated any securities laws?

Which of the following is not a prohibited practice for a broker-dealer?

Which of the following is not considered to be a person, as defined by the Uniform Securities Act?

Which of the following entities would be required to register with the state as a broker-dealer under the
guidelines of the Uniform Securities Act (USA)?

Which of the following is not in itself a reason for the Administrator to deny, suspend, or revoke the license
of a person?

A broker-dealer of commodity futures contracts has been profiting by trading for its own account either
before or after executing a client's trade on the same commodity, depending on which will be most
advantageous. Under the Uniform Securities Act, the broker-dealer is guilty of

AllTime Investment Advisers advertises that its phones are manned 24/7, so that a client "doesn't have to
lie awake all night worrying about a financial problem." In fact, AllTime does have a answering service that
answers calls in the evenings and on the weekends when its offices are closed. The service informs the
caller of the firm's business hours, which will be the earliest opportunity the caller will have to talk to an
investment adviser representative. Is this a violation of any securities laws?

Individual states are prohibited from requiring a broker-dealer or investment adviser to file financial
reports more frequently than:

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?

The trade confirmation must be received by the customer no later than

Noah Aull is an investment adviser representative with Canto Investment Advisers. A client has called and
told Noah that he heard about a firm that had recently completed an IPO at a party he had attended that
weekend and instructed Noah to purchase shares of the company, which was now trading on the OTC
Bulletin Board. Noah did some research and felt the company was far too risky an investment for this
client, so he did not execute the trade. This turned out to be fortunate for his client since the firm became
insolvent within six months of its IPO. Has Noah done anything wrong?