FINRA Series_63 Actual Free Exam Questions & Community Discussion

Exam Code/Number: Series_63
Exam Name/Title: Uniform Securities Agent State Law Examination
Certification Provider: FINRA
Corresponding Certification: FINRA Certification

Exam Questions: 255
Updated On: Jun 01, 2026

Question #33

Which of the following would not appear on a trade confirmation?

A. the client's account number

B. the commission

C. All of the above items appear on a trade confirmation.

D. the settlement date

Discussion 0

Correct Answer: C Vote an answer

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Question #34

If a person has had its license revoked by the Administrator of the state and has appealed the decision to
a court of law, that person

A. must notify the Administrator of the state that it has appealed the decision.

B. Both B and C are true statements.

C. is considered to have a revoked license until the courts rule otherwise.

D. can continue business as usual pending the resolution of the appeal.

Discussion 0

Correct Answer: B Vote an answer

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Question #35

Today's edition of the Wall Street Journal carried a front page story regarding a federal lawsuit that has
been filed against a software manufacturer for monopolistic practices. The CFO of the company called his
broker today and sold some of the shares he owns in the company. Which of the following statements are
true?
I. The CFO is guilty of illegal insider trading.
II. If the agent who effected the transaction for the CFO knew he was CFO of the software company, the
agent is guilty of illegal insider trading.
III. The broker-dealer for whom the agent works may have its license suspended or revoked if its agent
has knowingly executed this illegal insider trade for not having supervised the agent properly.

A. I only

B. I, II, and III

C. None of the statements is true.

D. I and II only

Discussion 0

Correct Answer: C Vote an answer

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Question #36

Stable Corporation registered a bond issue that it plans to offer for sale in the state with the Administrator.
The bond has a par value of $1,000 and will pay interest of 7% a year, with the principal to be repaid in 5
years. The registration became effective on September 8th. The registration is effective

A. until December 31st of the same year

B. until the maturity date on the bond.

C. for two full years.

D. for one full year.

Discussion 0

Correct Answer: D Vote an answer

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Question #37

Which of the following is not in itself a reason for the Administrator to deny, suspend, or revoke the license
of a person?

A. Some of the information supplied on the registration application was found to be false.

B. The applicant has never before worked in the securities industry although he has received the requisite
training.

C. The person has been convicted of check kiting within the past ten years.

D. The person is a broker-dealer whose agents have repeatedly been accused of churning and burning,
according to written client complaints.

Discussion 0

Correct Answer: B Vote an answer

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Question #38

Under the Uniform Securities Act (USA), which of the following statements would be disallowed?

A. A sales representative of GetErDone Broker-Dealers guarantees that a client can expect an average
annual rate of return of 2% on a mutual fund investment the sales representative is selling, pointing to the
fact that the fund has returned an average annual rate of return of 6% over the past ten years.

B. An insurance company guarantees a fixed payment of $300 a month for life on an annuity it is selling.

C. The government of the U.S. guarantees a 3% interest rate, to be paid semiannually, on a new 5-year
Treasury note.

D. Neither the statements in Selections B or C would be allowed under the guidelines of the Uniform
Securities Act.

Discussion 0

Correct Answer: A Vote an answer

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Question #39

The trade confirmation must be received by the customer no later than

A. one week after the settlement date.

B. the day after the trade takes place.

C. the settlement date.

D. five business days after the settlement date.

Discussion 0

Correct Answer: C Vote an answer

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Question #40

Price pegging refers to

A. the prohibited practice of excessively trading on a client's account that is used by some broker-dealers
and/or their agents to generate more commissions for themselves.

B. the illegal activity of a group of investors who buy and sell a security among themselves to create an
artificially high volume of trading in hopes of luring investors to buy the security.

C. the practice of buying large amounts of a security to drive its price up artificially.

D. the unethical practice of investment advisers who issue "buy" recommendations for stocks that they
own themselves without disclosing the fact.

Discussion 0

Correct Answer: C Vote an answer

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