Wrong Answers 5

Question 1

According to the NASAA Statement of Policy on Dishonest or Unethical Business Practices of Broker Dealer’s and Agents, which of the following conditions must be met for an agent to share in the profits or losses of the customer’s account?2

Answer 1

The agent has the employer’s written consent

The agent has the customer’s written consent

Question 2

All of the following must register as an agent when representing a broker dealer except

Answer 2

A partner in a broker dealer who has no securities sales functions

Question 3

According to the Uniform Securities Act, a person representing an issuer in the sake of which of the following securities would have to be registered as an agent?

Answer 3

Securities issued by a federal credit union

Question 4

First Growth Securities, Inc, a member of FINRA, has its main office in state I and is therefore

Answer 4

Required to register as a broker dealer in the state of State I

Question 5

The Uniform Securities Act defines an investment adviser and specifies the conditions under which registration with the state is required. There are however, cases where an exemption from registration is offered. For example, it is not necessary for an investment adviser to register when it

Answer 5

Has no place of business in the state and advises only savings and loans associations

Question 6

The Uniform Securities Act does not contain bonding requirements for

Answer 6

Issuers