FINRA Series_63 exam : Uniform Securities Agent State Law Examination

Series_63 Exam Simulator
  • Exam Code: Series_63
  • Exam Name: Uniform Securities Agent State Law Examination
  • Updated: Oct 04, 2026
  • Q & A: 255 Questions and Answers

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FINRA Series_63 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: State Securities Acts and Related Rules60%- Uniform Securities Act principles
  • 1. Registration of securities and exemptions
  • 2. State jurisdiction and definitions
- Administrator Powers
  • 1. Rulemaking and investigations
  • 2. Cease and desist orders and enforcement
Topic 2: Ethical Practices and Fiduciary Obligations40%- Client-related rules
  • 1. Client funds and securities handling
  • 2. Disclosure and suitability principles
- Ethics in securities business
  • 1. Fiduciary duties and conflicts of interest
  • 2. Anti-fraud provisions
Topic 3: Regulation of Investment Advisers and Representatives- Investment Adviser registration
  • 1. State vs federal covered advisers
  • 2. De minimis exemption
- Investment Adviser Representatives
  • 1. IAR registration requirements
  • 2. Post-registration obligations
Topic 4: Regulation of Broker-Dealers and Agents- Broker-Dealer definitions and requirements
  • 1. BD registration criteria
  • 2. Agent registration criteria
- Agent conduct and obligations
  • 1. Customer communications
  • 2. Compensation and transaction rules

FINRA Uniform Securities Agent State Law Examination Sample Questions:

Question #1

For how long after the effective date is a security's registration valid?

  • A. one year
  • B. two years
  • C. three months
  • D. six months
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #2

Once you have passed the Series 63 examination, which entity must then approve your application to sell
securities?

  • A. the state administrator
  • B. SEC
  • C. NASAA
  • D. FINRA
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #3

The state official who has regulatory authority over the securities industry within the state is known as the

  • A. administrator.
  • B. investor-protection officer.
  • C. secretary of state.
  • D. attorney-general.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

Julia Hasty has recently applied with the Administrator to be a registered investment adviser in the state.
Eager to open her new business, she has business cards printed that indicate that she is a
"state-registered" investment adviser and visits some local businesses, asking them for permission to put
some of her cards in their waiting rooms. Has Julia violated any of the provisions of the Uniform Securities
Act by distributing her business cards?

  • A. Yes. Julia is not permitted to advertise as a "state-registered" investment adviser until she receives
    notification of the acceptance of her application by the state Administrator.
  • B. No. The provisions of the Uniform Securities Act relate to securities, not people.
  • C. No. Julia has merely put her business cards in waiting rooms. She has not opened her business to
    clients yet.
  • D. No. As long as her application has been submitted and is pending acceptance, Julia has not violated
    any provisions of the Uniform Securities Act.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

Which of the following documents must a broker-dealer deliver on or prior to the confirmation due date to
a client who is purchasing a security?

  • A. a preliminary prospectus
  • B. a margin agreement if the purchase is being made on margin
  • C. a hypothecation agreement
  • D. a final prospectus
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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