Free Series 63 License Exam Questions MCQs

Question # 36

An adviser using client funds for personal use is guilty of:

Options:

Churning

Misappropriation

Commingling

Front running

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Question # 37

Which of the following transactions is exempt?

Options:

A non-issuer trade between two retail investors

A new issue of corporate bonds sold through broker-dealers

Preferred stock issued by a private corporation

A multi-state public offering of common stock

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Question # 38

Which security is a federal covered security?

Options:

Securities listed on NASDAQ

Common stock of a local start-up

Corporate bonds issued intrastate

Charitable foundation securities

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Question # 39

Which individual does NOT need to register as an IAR?

Options:

Partner supervising IARs in a state-registered advisory firm

Clerical staff handling paperwork

Solicitor receiving referral compensation

Portfolio manager advising clients

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Question # 40

Which adviser is NOT required to register in a state?

Options:

Adviser with no office and only institutional clients

Adviser with $80 million AUM serving retail clients

Adviser with $95 million AUM and multiple offices

Adviser with 10 retail clients in the state

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