Chapter 1 Part 2

Question 1

An agent of a bd is defined as

Answer 1

a nonclerical individual who represents a broker-dealer in effecting securities transactions.

Question 2

Without exception, salespersons of broker-dealers effecting securities transactions are considered

Answer 2

agents and must be registered.

Question 3

However, not every employee of a broker-dealer is considered an agent and subject to registration. An individual who provides

Answer 3

Price and/or sales info or performs clerical work is not an agent

Question 4

An agent of an issuer is

Answer 4

a nonclerical individual who represents an issuer in effecting securities transactions in the issuer’s securities

Question 5

An investment adviser {IA):

Answer 5

provides security advice for their business and receives compensation.

Question 6

IAs may give advice

Answer 6

directly, or through publications or writings.

Question 7

To meet the definition of an investment adviser, a person must satisfy all

Answer 7

provide security advice for their business and receive compensation

Question 8

An investment adviser representative {IAR):

Answer 8

Determines and gives security advice, manages client money, offers the sale of IA serviecs, or supervises employees performing any of these

Question 9

The USA was passed in 1956 and is a:

Answer 9

model law, which means that it’s a blueprint or template that each stale may customize to suit its own needs.