TEAS English Language Usage: Vocabulary Acquisition (Quiz 2) Welcome to your Series 63 Practice Quizzes. Note: We designed four (4) parts of practice quizzes for each Domain. Each part has 25 questions. Domain 5 (part 3): Regulation of Securities and Issuers​​​​​​​. (25 questions) Please click NEXT to start your Free Series 63 Practice Quizzes right away. Best of Luck! 1. Series 63, Regulation of Securities and Issuers,Series 63 If Perfect Pasta, Inc., a privately held company in State I that owns four restaurants wants to issue shares to public investors who are residents of State I, the company A) is exempt from registration because there are fewer than 10 restaurants in the state. B) may issue shares under the notice filing procedure available for federal covered securities. C) must register by qualification D) must register by coordination. None 2. Series 63, Regulation of Securities and Issuers,Series 63 Under the registration provisions of the Uniform Securities Act, it is unlawful for an agent in the state to sell XYZ securities unless A) XYZ is a federal covered security. B) both the agent and XYZ are nonexempt and unregistered. C) the agent is an unregistered nonexempt person. D) XYZ is an unregistered nonexempt security. None 3. Series 63, Regulation of Securities and Issuers,Series 63 Under the Uniform Securities Act, if no stop order is pending, a registration under coordination will become effective A) when the issue is declared effective by FINRA. B) when the issue is declared effective with the SEC. C) two business days after filing of the documents with the Administrator. D) when declared by the Administrator. None 4. Series 63, Regulation of Securities and Issuers,Series 63 Securities of a new company's initial public offering have been SEC registered, and the registration statement is effective. The securities were not registered in State X before the effective date, and the Administrator has determined that an offering of the securities in State X is not considered to be in connection with the same offering. A broker-dealer in State X wishes to publicly offer the securities in that state. These securities must be registered with the Administrator of State X in which of the following ways? A) Coordination B) Qualification C) Notice filing. D) Allocation None 5. Series 63, Regulation of Securities and Issuers,Series 63 Under the Uniform Securities Act, which of the following is true regarding the registration of securities? A) State registration by coordination is available only if a federal registration statement has been filed under the Securities Act of 1933 in connection with the same offering. B) The Administrator may require that a prospectus be delivered to every purchaser of a registered security no sooner than the time at which the security is delivered. C) The effectiveness of a registration statement ensures the accuracy of the information contained in the statement. D) Registration by coordination becomes effective on a date ordered by the Administrator. None 6. Series 63, Regulation of Securities and Issuers,Series 63 Which of the following securities is most likely to register by qualification under the Uniform Securities Act? A) An initial public offering of a corporate bond to be offered in 15 states B) A public offering of a stock to be offered exclusively in 1 state C) An initial public offering of a stock to be offered in 40 states D) A subsequent primary offering of stock in a large, established company to be offered in 30 states None 7. Series 63, Regulation of Securities and Issuers,Series 63 If required by the Administrator, a prospectus for securities registered by qualification must be given to each offeree A) prior to or concurrently with the filing of the registration statement. B) only upon request of the offeree. C) prior to the sale. D) prior to or concurrently with the effective date. None 8. Series 63, Regulation of Securities and Issuers,Series 63 When a security registration statement filed under the Uniform Securities Act with the state Administrator becomes effective, this means A) the registration statement is true in all respects. B) the securities that are the subject of that registration statement may be lawfully sold. C) the registration statement is accurate. D) the registration statement is not misleading. None 9. Series 63, Regulation of Securities and Issuers,Series 63 The state Administrator may, by rule or order, require issuers of federal covered securities to file records with the state that are part of a registration statement filed with the SEC. This procedure is called A) registration by qualification. B) registration by coordination. C) notice filing. D) registration by requirement. None 10. Series 63, Regulation of Securities and Issuers,Series 63 Under the Uniform Securities Act, before a corporation can issue a security in a state, that security must be A) registered in one other state and with the SEC. B) exempt from registration in other states in which it is issued. C) registered with the SEC and in the state of issue. D) registered in the state or exempt from registration in the state. None 11. Series 63, Regulation of Securities and Issuers,Series 63 Which of the following statements regarding state registration of securities is true? A) Registration by coordination is effective on the 10th day after filing with the Administrator. B) Registration by coordination is effective concurrently with federal registration. C) Registration by qualification is effective after 30 days. D) Notice filing is effective when ordered by the Administrator. None 12. Series 63, Regulation of Securities and Issuers,Series 63 Which of the following statements are true? I. It is unlawful for anyone to conduct business as a broker-dealer in a state unless also registered as an agent. II. A registration statement may be filed by an issuer itself, a broker-dealer, or any other person on whose behalf the offering is to be made. III. Registration of an agent is not effective when the agent is not associated with a broker-dealer registered under the act. IV. An agent's registration is automatically renewed one year after approval, provided no violations occurred during the year. A) II and III B) II and IV C) I and III D) I and IV None 13. Series 63, Regulation of Securities and Issuers,Series 63 Under the Uniform Securities Act, which of the following is true regarding the registration of securities? A) The Administrator may require that a prospectus be delivered to every purchaser of a registered security no sooner than the time at which the security is delivered. B) Registration by coordination becomes effective on a date ordered by the Administrator. C) The effectiveness of a registration statement ensures the completeness of the information contained in the statement. D) State registration by coordination is only available if a federal registration statement has been filed under the Securities Act of 1933 in connection with the same offering. None 14. Series 63, Regulation of Securities and Issuers,Series 63 Broker-dealers are prohibited from A) acting as a principal in a corporate underwriting. B) soliciting nonexempt transactions in unregistered nonexempt securities. C) engaging in activities common to a broker-dealer when underwriting a corporate offering by acting as an agent for the issuer. D) operating as a market maker in more than one stock. None 15. Series 63, Regulation of Securities and Issuers,Series 63 Which of the following statements best describes the effect of the NSMIA of 1996 on securities regulation? A) Established the need for dual registration of securities B) Increased the power of state securities Administrators over registration of securities C) Preempts state registration of covered securities D) Provided for the registration of intrastate securities None 16. Series 63, Regulation of Securities and Issuers,Series 63 An issuer of federal covered securities, whose registration is effective under the Securities Act of 1933, would use which of the following procedures to permit sales of its securities in a specific state? A) Qualification B) Registration C) Coordination D) Notice filing None 17. Series 63, Regulation of Securities and Issuers,Series 63 When an issue is registered by coordination, it is also registered under the provisions of A) the Securities Act of 1933. B) the Investment Advisers Act of 1940. C) the Uniform Securities Act. D) the Securities Exchange Act of 1934. None 18. Series 63, Regulation of Securities and Issuers,Series 63 Under the Uniform Securities Act, it is unlawful to sell A) a security of a commercial bank not registered in the state. B) a nonexempt, nonregistered security issued by a foreign corporation from a country with which the U.S. government maintains diplomatic relations. C) a federal covered security not registered in the state. D) a security registered in the state under the Uniform Securities Act but not registered in any other state. None 19. Series 63, Regulation of Securities and Issuers,Series 63 Which of the following statements regarding registration provisions is not true? A) The Administrator may, by order, permit omission of items of information or documents from a registration statement. B) The Administrator may, as a condition of registration by qualification or coordination, rule that the securities may only be sold on a specified form of subscription and that a signed copy be filed with the Administrator. C) The Administrator may not, as a condition of registration by qualification or coordination, require that the security be deposited in escrow and the proceeds be impounded until the issuer receives a specified amount. D) Every registration must specify the total amount of securities offered, the states in which offering is to be made, and any adverse order or judgment by a regulatory authority. None 20. Series 63, Regulation of Securities and Issuers,Series 63 A security has been registered under qualification. Which of the following statements are correct? I. The registration is valid for one year from the effective date. II. The registration is valid for one year from the effective date, unless the underwriter or issuer still has some unsold shares. III. The registration is valid until the next December 31. IV. The registration statement may be amended to increase the number of shares in the offering as long as the public offering price and the underwriter's compensation are not changed. A) II and III B) I and IV C) I and III D) II and IV None 21. Series 63, Regulation of Securities and Issuers,Series 63 Securities of a nonexempt corporate issuer that are not registered with the SEC may only be registered with the Administrator in which of the following ways? A) Condemnation B) Obfuscation C) Coordination D) Qualification. None 22. Series 63, Regulation of Securities and Issuers,Series 63 The Administrator may do all of the following with respect to federal covered securities except A) require the payment of a filing fee to the state. B) initiate enforcement action in the case of fraud committed in the Administrator's state. C) require that the issuer meet minimum financial standards. D) require submission of a consent to service of process. None 23. Series 63, Regulation of Securities and Issuers,Series 63 If an issuer of a nonexempt security wants to register simultaneously with the state and the SEC, which method would be used? A) Registration by qualification. B) Registration by coordination C) Registration by notification D) Notice filing for certain federal covered securities None 24. Series 63, Regulation of Securities and Issuers,Series 63 Which of the following practices is considered unlawful under the Uniform Securities Act? A) An agent accepting indications of interest in securities that are in the process of registering with the SEC B) An individual, with no place of business in the state, claiming to be registered and authorized to solicit business in the state in which the prospective client resides C) A broker-dealer maintaining its records electronically D) An agent soliciting orders from retail clients for unregistered nonexempt securities None 25. Series 63, Regulation of Securities and Issuers,Series 63 Simus Fund, a new open-end investment company, is preparing its registration statement with the SEC. Under the provisions of the NSMIA of 1996, this company would qualify for sale in a state by A) qualification. B) notice filing. C) coordination. D) securitization. None 1 out of 25 Time is Up! Time's up
