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Series-63 dumps questions answers

FINRA Series-63 Dumps

Exam Code:
Series-63
Exam Name:
Uniform Securities State Law Examination
Last Update: Nov 29, 2024
251 Questions with Explanation
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Uniform Securities State Law Examination Questions and Answers

Questions 1

You have recently discovered that a security you purchased has not been registered with the state, nor is it exempt from registration. You can file a civil claim against the seller as long as you do so within

Options:

A.

five years.

B.

three years from discovery or five years from the event, whichever comes first.

C.

two years from discovery or three years from the event, whichever comes first.

D.

one year from discovery.

Questions 2

You are an investment adviser to Mr. Crochety, an elderly man who lives solely on his social security income although he managed to accumulate an investment portfolio worth about $100,000 over the years. Mr. Crochety recently got his hands on a business publication and read about the tax-free interest paid by municipal bonds. He calls you and instructs you to sell his other investments and invest all his money in a municipal bond portfolio, so that “the government doesn’t get any more of my hard-earned money.” You tell Mr. Crochety that you don’t believe this is a wise move because he’s in such a low tax bracket that municipal bonds are not a good investment for him, but he is insistent. Based on these facts, you should

Options:

A.

ignore Mr. Crochety’s instruction since it is not in his best interest.

B.

require Mr. Crochety to sign an affidavit of liability waiver, indicating that you will not be held responsible for any adverse consequences of this decision.

C.

have Mr. Crochety sign a statement of investment policy that indicates that this transaction is being executed on the client’s instructions and that you have advised the client against it.

D.

call Mr. Crochety’s relatives and suggest they have him examined for mental instability.

Questions 3

Gazillions is an investment adviser with offices in the state that is registered with the SEC and has $100 billion dollars under management. A client has filed a complaint asserting that the firm has been involved in fraudulent activities. In this case,

Options:

A.

Gazillions only has to answer to the SEC regarding the allegations. Since it is a federal covered investment adviser, it need not respond to any state-issued requests for information.

B.

Gazillions only has to answer to the state in which the complaint was filed.

C.

Gazillions has to answer to both the SEC and the state in which the complaint was filed.

D.

Gazillions is in trouble for not registering with both the state and the SEC given the amount of money it has under management.