Series63 試験問題を無料オンラインアクセス

A broker-dealer will be found guilty of churning an account if the account has a turnover ratio of

• A.five.
• B.eight.
• C.There is no specified turnover ratio assigned to the prohibited practice of churning.
• D.four.

Which of the following entities are subject to post-registration provisions?
I. broker-dealers
II. agents
III. investment advisers
IV. investment adviser representatives

• A.II and IV only
• B.I and III only
• C.I and II only
• D.All of the entities are subject to post-registration provisions.

An investment adviser may not

• A.accept any kind of soft dollar compensation for using certain broker-dealers to execute trades on their clients' accounts.
• B.recommend a stock to a client that the adviser itself holds without disclosing to the client that the adviser owns the stock.
• C.also be registered as a broker-dealer in the state.
• D.take a position-either long or short-in securities in which any of its clients have a position.

You execute a stock transaction for a client on Thursday, September 23rd. The settlement date on the order ticket will be

• A.Tuesday, September 28th.
• B.Monday, September 27th.
• C.Friday, September 24th.
• D.Thursday, September 23rd.

Under the NASAA Model Rules, which of the following must an investment adviser provide its clients with at least once a year?

• A.the number of any complaints that each of its investment adviser representatives has received during the period
• B.the total amount of commissions or other compensation that the investment adviser received or expects to receive in connection with agency cross transactions performed for the client during the period
• C.the total number of agency cross transactions completed for the client during the period
• D.both A and B