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Lesson 01 Introduction Series 63 2018 v1 850 2

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33 views

Lesson 01 Introduction Series 63 2018 v1 850 2

Uploaded by

joncookdebate
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SERIES 63 EXAM

Uniform Securities State Law Examination

Contact Information

STUDY QUESTIONS ADMINISTRATIVE QUESTIONS

• Instructor: David Meshkov Logins/Website/Make-up classes

• Email: [email protected] • Email: [email protected]

• Cell: 646-202-0909 • Call Our Office: 212-626-6899

• Office: 212-626-6899

© Knopman Marks Financial Training


Version: 2018 V1 1
What’s the Series 63 All About?
 What’s the Series 63?
 The state law test for broker-dealer representatives (agents)

 What’s tested?
 State law (USA), regulations and their application

 What’s the focus?


 Protecting retail customers
 Requiring the registration of securities professionals

 Establishing conduct and ethics rules

© Knopman Marks Financial Training


Version: 2018 V1 2
Series 63 Exam

Exam Details
 Test Time – 75 minutes

 Total Questions - 65
 Graded questions – 60
 Experimental – 5

 Passing score – 72% (43 of 60 graded Qs)

© Knopman Marks Financial Training


Version: 2018 V1 3
Exam Screen

Laws, Regulations, & Guidelines Section


Exam Breakdown

UNIT TITLE QUESTIONS UNIT #

Regulation of Persons 24 Qs
BDs, Agents, IAs, & IARs (40 %) 1

Regulation of Securities & Issuers 3 Qs


Exempt Securities & Transactions (5%) 2

Remedies and Administrative Provisions 6 Qs


Investigations, Penalties, & Sanctions (10%) 3

Communications with Customers 12 Qs


Ads, solicitations, & social media (20%) 4

Ethical Practices & Obligations 15 Qs


NASAA Model Rules (25%) 5

© Knopman Marks Financial Training


Version: 2018 V1 4
Study Plan
 Read entire textbook
 Complete 520+ questions (8 exams)
 Select “Custom Quiz” and alternate
 Exam on all questions,
 Exam on Units 1, 4, & 5 only
 Only UNUSED questions
 65 questions in 65 minutes
 Faster than real exam (75 minutes)
 Show answer explanations!

Using Qbank Effectively

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© Knopman Marks Financial Training


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Regulatory Framework

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Relevant Laws, Rules & Regulations


STATE LAW FEDERAL LAW

• Uniform Securities Act (USA) • Investment Advisers Act of 1940

• NASAA Statements of Policy • National Securities Markets


and Model Rules Improvements Act of 1996
(NSMIA)

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© Knopman Marks Financial Training


Version: 2018 V1 7
Key Terms
 Person – Broadly defined Who is NOT a person?
 Individuals (natural person/human) × Minors (custodian)
 Corporations and trusts × Deceased (executor)
 Governments and gov’t agencies × Mentally incompetent
 Municipalities (guardian)

 State
 The 50 states and territories/possessions of the US
 Includes Washington, DC, and Puerto Rico

 Administrator
 The office or agency that enforces a state’s securities laws

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Overview of Key Persons

Broker-Dealer (BD) Investment Adviser (IA)


Any person effecting securities Sells investment-related advice
transactions (state-registered or fed-covered)

Investment Adviser
Agent
Representative (IAR)
Individual (natural person) who
represents broker-dealers Individual (natural person) who
represents IA firms

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Version: 2018 V1 8
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