Wrong Answers 6

Question 1

The Uniform Securities Act does not grant the Administrator the authority to commence an action against a broker dealer registered in her state based upon

Answer 1

A shareholder, with no management role in the broker dealer, being unable meet his financial obligations as they become due

Question 2

Your client maintains a small cash account at the firm. One typical broker dealer fee that would not be charged to this client is

Answer 2

Margin interest on the debit balance

Question 3

Sharon Smith is an agent for Highwater Securities, a broker dealer registered in all 50 states. Sharon receives an unsolicited order from a bank located in State X, a state in which she has no place of business. Under the Uniform Securities act

Answer 3

Sharon must register in state X in order to accept the order

Question 4

An Administrator may deny or revoke a security’s exemption

Answer 4

Without a hearing if the issuer is given an opportunity for a hearing after the revocation

Question 5

Which of the following are required to register with a state Administrator?

Answer 5

Investment adviser representatives of federal covered advisers who have a place of business in the state and limit their clientele to employee benefit plans with a minimum of $10 million in assets

Question 6

In a margin account, broker dealers lend money to clients to enable them to leverage their investments. The account document that is evidence of the debtor creditor relationship is

Answer 6

The credit agreement