FINRA Series_63 問題集

質問 1：
Stu Pede is an agent with broker-dealer Cavalier. A customer calls with a request to establish a classic
IRA and asks for Stu's advice regarding where the money in the IRA should be invested. Stu suggests a
municipal bond fund, explaining to his client that the interest income earned on it will be tax-free at the
federal level, and some of it may even be tax-free at the state and local levels. Has Stu engaged in any
prohibited practices?
A. Yes. Municipal bonds are not suitable investments for a classic IRA, and Stu can have his license
revoked or suspended.
B. No. Although Stu has given investment advice, it was solicited by the client, and Stu received no
additional compensation for the advice.
C. No. Although municipal bonds are not suitable investments for a classic IRA, Stu obviously didn't know
this and is merely guilty of stupidity.
D. Yes. Stu is an agent with a broker-dealer. He is not an investment adviser representative and is not
allowed to make recommendations regarding investments to the firm's clients.
正解：A
解説: (Topexam メンバーにのみ表示されます)

質問 2：
Which of the following would a firm not be expected to provide to the Administrator when registering an
issue of securities with the state?
A. The firm will be expected to provide all of the above to the Administrator when registering an issue of
securities with the state.
B. the agreement between the issuing firm and the underwriters
C. the agreement among the underwriters themselves
D. all sales and advertising materials that will be used in conjunction with the offering.
正解：A
解説: (Topexam メンバーにのみ表示されます)

質問 3：
Jack is employed by NewCorp, which is engaging in an initial public offering (IPO). Jack will need to
register as a sales representative if he:
A. represents NewCorp in any transactions with financial institutions.
B. participates in the selling of the new stock to individual investors.
C. Jack will need to register as a sales representative if he performs any one of the above activities.
D. engages in transactions with the underwriters of the IPO for the purpose of taking the firm public.
正解：B
解説: (Topexam メンバーにのみ表示されます)

質問 4：
In which of the following scenarios would the Administrator of a state not have jurisdiction?
I. A monthly newspaper published by a resident of the state who is not a registered investment adviser
has a column in which the publisher makes specific investment recommendations for clients who write in
for advice. About 80% of the circulation of the publication is to out-of-state residents.
II. An internet blog posted by an out-of-state resident makes investment recommendations.
III. An out-of-state firm solicits buyers for its promissory notes within the state.
A. I and II only
B. II only
C. I only
D. I, II, and III
正解：A
解説: (Topexam メンバーにのみ表示されます)

質問 5：
The Turnover Corporation, a firm with 25,000 employees, has recently hired 50 new employees, many of
whom have been hired to replace middle-level managers who have retired. Turnover has omitted this fact
from its prospectus. Turnover is guilty of
A. misrepresentation.
B. nothing. The hiring of 50 new employees by a firm with 25,000 employees is not a material fact.
C. fraud.
D. misusing insider information.
正解：B
解説: (Topexam メンバーにのみ表示されます)

質問 6：
Under the 2002 Uniform Securities Act, registration by coordination allows:
A. both state-registered and out-of-state investment bankers to participate in the underwriting and
registration of a new security issue.
B. federal covered securities to be registered simultaneously with the SEC and with the states in which
the securities will be offered for sale.
C. securities that do not fall within the category of federal covered securities to be registered
simultaneously with the SEC and with the states in which the securities will be offered for sale.
D. issuers of federal covered securities to submit only a notice filing with the Administrator of states in
which the securities will be offered for sale.
正解：C
解説: (Topexam メンバーにのみ表示されます)

質問 7：
Barring no irregularities (such as a license revocation by another state last year), after you have filed for
registration as an agent, your license will be granted within
A. 10 business days.
B. 30 days.
C. 45 days.
D. 14 business days.
正解：B
解説: (Topexam メンバーにのみ表示されます)

質問 8：
Which of the following securities would be exempt from state registration requirements, according to the
Uniform Securities Act?
I. a municipal bond issued by the Canadian province of Nova Scotia
II. a bond issued by the county of Cork, Ireland
III. a bond issued by Nationwide Insurance Company
A. All of the selections would be exempt from state registration requirements under the Uniform
B. Selection I and III only
C. Selection I only
D. Selection III only
正解：B
解説: (Topexam メンバーにのみ表示されます)

質問 9：
To continue operating as an agent, broker-dealer, investment adviser, or investment adviser
representative next year, you must pay the filing fee to renew your license with the state Administrator by
A. January 15th of the new year.
B. December 31st of this year.
C. the anniversary date of the original issue date on your license.
D. January 30th of the new year.
正解：B
解説: (Topexam メンバーにのみ表示されます)