FINRA Uniform Securities Agent State Law Examination Series_63 Prüfungsfragen mit Lösungen:
1. Investment Adviser Foo Lish, LLC has begun serving as a custodian of its clients' assets. Foo Lish, LLC
must now
I. file a new U-5 form with the Administrator.
II. meet higher net capital requirements than before.
III. file an updated Form ADV with the Administrator.
IV. pay a CPA to do an annual unannounced audit of the firm.
A) I, II, III, and IV
B) II and III only
C) I and II only
D) II, III, and IV only
2. As an agent, which of the following statements about the Securities Investor Protection Corporation (SIPC)
can you legitimately make to your client?
A) The SIPC is the FDIC of the stock and bond markets."
B) "The SIPC is a government agency that was created by an Act of Congress to protect investors against
losses in the stock and bond market."
C) "The SIPC is a government agency created by an Act of Congress to combat fraud."
D) "The SIPC was established to restore funds to investors when the brokerage firm they have been using
is bankrupt or in financial distress."
3. A-2-Z Associates advertises itself as a full service brokerage firm that will buy and sell securities for its
clients, as well as provide investment advice to them. Its brochure provides a variety of plans to which a
client can subscribe. The basic plan is the cheapest and allows the client a maximum number of trades
per month for a specified fee. Another, slightly more expensive, plan provides the client with the same
maximum number of trades per month, but the client also receives a personalized quarterly review of his
portfolio along with advice for restructuring his portfolio based on such factors as current market
conditions and specific industry or company information. The most expensive plan is one in which the
client is assigned to an individual portfolio manager, who will take total responsibility for the asset
allocation of the client's portfolio and will provide the client with monthly reports. Based on the services
A-2-Z provides, it must register with the state as:
A) both a broker-dealer and an investment adviser.
B) a broker-dealer.
C) an investment adviser.
D) an investment adviser representative.
4. For how long after the effective date is a security's registration valid?
A) six months
B) two years
C) three months
D) one year
5. Stu Pede is an agent with broker-dealer Cavalier. A customer calls with a request to establish a classic
IRA and asks for Stu's advice regarding where the money in the IRA should be invested. Stu suggests a
municipal bond fund, explaining to his client that the interest income earned on it will be tax-free at the
federal level, and some of it may even be tax-free at the state and local levels. Has Stu engaged in any
prohibited practices?
A) Yes. Stu is an agent with a broker-dealer. He is not an investment adviser representative and is not
allowed to make recommendations regarding investments to the firm's clients.
B) No. Although municipal bonds are not suitable investments for a classic IRA, Stu obviously didn't know
this and is merely guilty of stupidity.
C) No. Although Stu has given investment advice, it was solicited by the client, and Stu received no
additional compensation for the advice.
D) Yes. Municipal bonds are not suitable investments for a classic IRA, and Stu can have his license
revoked or suspended.
Fragen und Antworten:
| 1. Frage Antwort: D | 2. Frage Antwort: D | 3. Frage Antwort: A | 4. Frage Antwort: D | 5. Frage Antwort: D |
1215 Kundenbewertungen
