Free Series 63 License Exam Questions MCQs

Question # 31

Which adviser must register with the SEC?

Options:

Adviser with $120 million AUM

Adviser with $75 million AUM

Adviser with no office and 3 retail clients

Adviser with $95 million AUM

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Question # 32

An IAR with no office in a state has 2 clients there. Registration is:

Options:

Not required under de minimis rule

Required immediately

Required with SEC only

Allowed if approved by Administrator

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Question # 33

If an investment adviser representative (IAR) distributes advertisements, they must:

Options:

File with the SEC for approval prior to release

Ensure the material is fair, balanced, and not misleading

Avoid any reference to past performance under all circumstances

Deliver ads only to accredited investors

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Question # 34

An ad states, “This bond has zero risk.” This is:

Options:

Acceptable for U.S. Treasury bonds

Misleading and prohibited

Allowed for institutional investors

Permissible with disclosures

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Question # 35

Commingling occurs when:

Options:

Client funds are placed in the adviser’s personal account

Adviser trades ahead of client orders

Adviser makes excessive trades for commissions

Adviser uses insider information

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Series 63 License Questions

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Name	Series 63 License
Code	Series 63 License
Vendor	Finance, Insurance and Real Est
Certification	Financial Industry Regulatory Authority (FINRA)