Series 63 Exam Lessons
Table of Contents
Introduction About the Exam Lesson 1 Business Practices customer accounts part 1 Cash accounts and Client information requirements Margin accounts Information requirements Individual Accounts Joint Accounts Transfer on Death Discretionary Authority Suitability of investments Wash trades Solicited orders vs unsolicited orders Suitability Rules Customer communication of risks Fiduciary Rules: Broker Dealer vs Investment Advisor Settlement Reg T Short Sales Comingling Stocks Proprietary positions of Broker Dealer Client Taking Possession of Securities Lesson 2 Business Practices customer accounts part 2 Antifraud Rules Client Consent Contract Requirements Investment Advisory Agreement Requirements Sharing of Gains and Losses Brochure requirements ADVA pt 2a pt2b Custody of Client Assets Lesson 3 Business Practices customer accounts part 3 Borrowing Money from Customers Loaning Money to Customers Commissions’ Disclosure Customer Complaints Trading Practices Tipper Tipee rules Penalties for Insider Trading Front Running Initial Public Offerings Advertising Testimonials Internet Advertising Email Communication Selling Away Referral Fees Lesson 4 Business Practices Uniform Prudent Investor Act Diversification Concentrated Portfolios Prohibited Transactions Block Trades Conflicts of Interest Not Not May Rules Promissory Note Fraud Anti-Money Laundering Rules Suspicious Activity Reports Privacy Statement Orders and Order Confirmations Do It Rule Limit Order Display Rule Payment for Order Flow Lesson 5 Registration & Licensing part 1 Blue Sky Laws Conflicts between Fed and State Definitions Issuer Non Issuer Agents Principal Intuitional Buyers Exclusions De Minimis Rule Exempt Securities Isolated Transaction Loophole Covered Securities Qualified Purchaser Lesson 6 Registration & Licensing part 2 Financial Advisors State Registration vs. Fed Registration National Securities Improvement act of 1996 Investment Advisor Representative Broker Dealer Agent Exclusions Exemptions Fees U4 Form U5 Form CRD Lesson 7 Registration & Licensing part 3 Registration Requirements Net Capital Individual vs. Entity Surety Bond Custody of Assets Financial Report Maintaining Registration Record Keeping Requirements Record Retention Broker Dealer Records Act of 1934 Advertising Email Correspondence Electronic Record Keeping Brochure Rule Statute of Limitations Suspensions Withdrawing from the Business Lesson 8 Securities Registration Definition of Security Exempted Securities Federal Covered Securities Definition of Sale and Offer Registration by Filing Registration by Coordination Registration by Qualification Revocation of Registration Hearing Requirements Lesson 9 Administrative Procedures Penalties Investigations Non Public and Public Investigations Grounds for Suspension or Revocation Cease and Desist Orders Criminal Liability Civil Liability Offer of Rescission Radio and Newspaper Offers Web PagesSeries 63 Exam Lessons
What’s this Series 63 exam? You would think that after passing the SIE exam (Securities Industries Essentials) and then the Series 7 exam you would be ready to start selling investment products for a broker dealer.
Unfortunately this is not true you have one more hoop to jump through, one more examination to take, its called the Series 63 exam. And we can help you in your Series 63 Exam Prep.
The Series 63 exam, also known as the Uniform Securities State Law Examination, is a regulatory exam administered by FINRA (Financial Industry Regulatory Authority) on behalf of the North American Securities Administrators Association (NASAA). This exam is required for individuals who want to register as securities agents or representatives with a state securities administrator.
While the SIE (Securities Industry Essentials) exam and the Series 7 exam focus on federal regulations, the Series 63 exam is specific to state securities laws. It ensures that individuals understand the regulations and rules applicable to selling securities at the state level.
The Series 63 exam consists of 60 scored questions, and candidates are given 75 minutes to complete it. To pass the exam, candidates need to correctly answer at least 43 of the 60 scored questions, which corresponds to a passing score of 71.667%.
If you are preparing for the Series 63 exam, audio lessons can be a helpful resource to enhance your understanding of the exam topics and improve your chances of success. These lessons likely cover important concepts related to state securities laws, regulations, and ethical practices that are tested in the exam.
It’s important to note that specific study materials and resources may vary, so it’s advisable to consult reputable sources and materials provided by recognized exam preparation providers. Additionally, it can be beneficial to complement audio lessons with other study materials such as textbooks, practice exams, and interactive online resources to ensure a comprehensive preparation for the Series 63 exam.