Series 63

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  1. What job Title would a "Registered Representative" be?
    An Agent
  2. What is a Agent or a Registered Representative?
    • Individual  who represents a broker/ dealer or an dealer in effecting or attempting to affect security transactions.
    • They usually work on commission basis on behalf of otherer pg15
  3. Who can be an Agent
    Only an Individual or a natural person not a Brokerage Firm which is a legal entity.
  4. Who are Excluded From the Definition of a Broker/ Dealer
    • 1) Agents
    • 2) Issuers
    • 3) Banks and Saving Institutions, and Trust Companis
  5. What 2 Provisions can qualify a Broker/Dealer as registering because of place of Business?
    1) Have no place of Business in the State and deal EXCLUSIVELY with issurers other banks and other Financial Institutions

    2)Have no place of Business in State where a transaction is being carried but does have license in homestate and does business in other states with existing customers that are NON residents
  6. Can the Administrator set a net Capitol requirement and if so what are the limits?
    Yes the Administrator can but it cant exceed more than the Securities Exchange Act of 1934 Requires
  7. Who do agents represent?
    Broker/Dealers or Issuers
  8. What Job Titles in A Brokerage firm are excluded from the definition of an Agent
    • Clerical
    • Administrative
  9. Whats the limits to a "Cold Caller" duties in order to not be classified as a Agent
    Did more than ask a Client if they wanted to receive information. For EX: pre-qualifying clients or suuedtong hpw they could mske more money
  10. Can Individuals who represent issuers of Securities Calssified as Agents?
    Yes but they can also be excluded from the Definition of an Agent
  11. Individuals who represent issuers of Securities are excluded from being defined as an Agent if what?
    1) Deal with Exempt Securities

    2) Exemp From registration dealing with exempt Transactions

    3) Exemp From registration dealing with exempt Transactions with existing employees patners or directors of th issuer if no commission nor other remuneration is paid or given directly or indrectly for soliciting any person in this state.
  12. What are the Exempt Securities for Individuals who represent issuers of Securities.
    1) US Government and Municipal Securities   

    • 2) Commercial Banks and Saving Institution or Trust Companies
    • 3) Securities in which the US has Diplomacy over

    4 ) Commercial Paper   

    5) Investment Contracts
  13. What are the Exempt Transactions for Individuals who represent issuers of Securities
    • 1) Isolated Non-Issuer Transactions
    • 2) Tranaction between an issuer and an Underwiter
    • 3)TRanactions between savings institutions or Trust Companies
    • 4) Private Placement
  14. Wen an Agent shifts employees who must notify the Admnistrator?
    • Agent
    • Old Employee
    • New Employee
  15. Are Agents required to have a net Capitol?
    No but a Bond migh be required
  16. Can Agents Split Commision
    yes if thery are registered as agents under th same Broker Dealer
  17. Can an Agent act at on time for Mutiple Broker Dealer?
    No, unless the Broker Dealer or issuer for whom the Agent acts are affiliated by indrect or direct common cotrol or the Administrator grants an exception
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Series 63
2013-10-24 15:06:15

Kaplan Chapter 1 Insurance
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