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Wiley Series 63 Exam Review 2013 + Test Bank: The Uniform Securities Examination

Wiley Series 63 Exam Review 2013 + Test Bank: The Uniform Securities Examination

The Securities Institute of America, Inc.

ISBN: 978-1-118-67118-4

Jul 2013

192 pages

Select type: Paperback

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Description

Uniform Securities Exam (Series 63)  is designed to qualify candidates as securities agents. The examination covers the principles of state securities regulation reflected in the Uniform Securities Act.

Topics Covered:
  • State Securities Acts and Related Rules
  • Ethical Practices and Fiduciary Obligations
Test: 65 multiple-choice questions, 5 of which are experimental. Candidate must correctly answer at least 43 of the 60 scored questions. Each book is accompanied by an online test bank with 127 questions, organized by chapter. The questions included in the book have been included in this online test bank
 
Pre-requisites: In order to conduct securities business, many states require that an agent successfully complete the Series 63, in addition to obtaining a Series 6, 7, or 62 registration, but a candidate is not required to have any other professional qualifications prior to taking the Series 63 exam.
ABOUT THE SERIES 63 EXAM IX

ABOUT THIS BOOK XIII

ABOUT THE TEST BANK XV

ABOUT THE SECURITIES INSTITUTE OF AMERICA XVII

CHAPTER 1

FEDERAL LAW REVIEW 1

The Securities Act of 1933 1

The Prospectus 2

The Final Prospectus 2

Misrepresentations 3

The Securities Exchange Act of 1934 3

Net Capital Requirement 7

Customer Coverage 7

Fidelity Bond 8

The Insider Trading and Securities Fraud Enforcement Act of 1988 8

Firewall 9

The Telephone Consumer Protection Act of 1991 9

National Securities Market Improvement Act of 1996 10

The Uniform Securities Act 11

The Uniform Prudent Investors Act of 1994 11

CHAPTER 2

DEFINITIONS OF TERMS 13

Security 13

Person 15

Broker Dealer 16

Pension Consultants 18

Form ADV 18

Investment Adviser Representative 19

Off er/Off er to Sell/Off er to Buy 21

Sale/Sell 21

Guarantee/Guaranteed 22

Contumacy 22

Federally Covered Exemption 22

Pretest 23

CHAPTER 3

REGISTRATION OF BROKER DEALERS, INVESTMENT ADVISERS, AND AGENTS 29

Registration of Broker Dealers and Agents 29

Agent Registration 30

Registering Broker Dealers 31

Financial Requirements 32

Broker Dealers on the Premises of Other Financial Institutions 32

Registering Agents 32

Canadian Firms and Agents 34

Investment Adviser Registration 34

The National Securities Market Improvement Act of 1996/The Coordination Act 35

Investment Adviser Representative 36

Investment Adviser Registration 36

Capital Requirements 37

Exams 37

Advertising and Sales Literature 38

Brochure Delivery 39

Wrap Accounts 39

Pretest 41

CHAPTER 4

SECURITIES REGISTRATION, EXEMPT SECURITIES, AND EXEMPT TRANSACTIONS 47

Exempt Securities 47

Securities Registration 48

Registration of IPOs Through Coordination 48

Registration Through Notice Filing 49

Registration of Non-Established Issuers/Registration Through Qualification 49

Exempt Securities/Federally Covered Exemption 51

Exempt Transactions 52

Pretest 57

CHAPTER 5

PROFESSIONAL CONDUCT AND PROHIBITED AND FRAUDULENT ACTIONS 63

Fraud 63

Professional Conduct 64

Suitability 64

Market Manipulation 66

Customer Complaints 67

The Role of the Investment Adviser 67

Additional Compensation for an Investment Adviser 68

Agency Cross Transactions 68

Disclosures by an Investment Adviser 68

Investment Adviser Contracts 70

Private Investment Companies/Hedge Funds 70

Soft Dollars 70

Pretest 73

CHAPTER 6

THE STATE SECURITIES ADMINISTRATOR AND THE UNIFORM SECURITIES ACT 81

Actions by the State Securities Administrator 81

Cancellation of a Registration 82

Withdrawal of a Registration 83

Actions Against an Issuer of Securities 83

Rule Changes 83

Administrative Orders 83

Interpretive Opinions 84

Administrative Records 84

Investigations 85

Civil and Criminal Penalties 85

Jurisdiction of the State Securities Administrator 86

Administrator’s Jurisdiction over Securities Transactions 86

Right of Rescission 88

Statute of Limitations 89

Pretest 91

ANSWER KEYS 97

GLOSSARY OF EXAM TERMS 105

INDEX 171