Wiley Series 63 Exam Review 2016 + Test Bank by Securities Institute of America

Author:Securities Institute of America
Language: eng
Format: epub
ISBN: 9781119138853
Publisher: Wiley
Published: 2015-10-30T00:00:00+00:00

Chapter 6: The State Securities Administrator and the Uniform Securities Act

(C) A state securities administrator may not require an issuer to file reports more than quarterly.

(B) An agent may be denied a registration based on lack of training or a criminal record. An agent may not be denied a registration solely based on the public interest or lack of experience.

(C) All three administrators would have jurisdiction over this transaction: New York, because that is where the offer originated; Florida, because that is where the offer was directed; and New Jersey, because that is where the client accepted the offer.

(B) The administrator may take action against both the firm and the agent.

(B) The administrator must hold a hearing within 15 days of receiving a written request.

(D) An administrator may do all of the choices listed and an individual may be found in contempt of court for displaying contumacy.

(D) An administrator may not order an injunction. Only a court may order an injunction. The administrator may ask a court for an injunction, but the court must order it.

(C) The Uniform Securities Act was designed to be enforced and administered by the state.

(B) If an investor has been offered rescission, the offer must be accepted within 30 days and it must pay the investor interest for the time that the money was invested.

(A) An individual who willfully violates the Uniform Securities Act may be fined $5,000, up to three years in prison, or both.

(B) An investor who discovers a violation has two years from the discovery or three years from the triggering event, whichever occurs first, to take action.

(A) All of the choices listed are violations except buying warrants and selling the issuer's common stock short. This is an example of an arbitrage transaction.

(B) Implying that one security is safer than another due to its exchange listing is a violation.

(D) An agent may not be denied a registration solely on the basis of the public interest.

(C) A client is not entitled to treble damages.

(C) It is highly unlikely that an administrator would try to take action against another regulator.

(D) A customer who has rejected an offer of rescission has forfeited his rights of recovery.

(C) An administrator may not take action against an issuer's registration because the administrator does not think that the industry has good prospects for the issuer.

(B) The withdrawal of a registration will become effective after 30 days, as long as no action is being taken against the broker dealer.

(B) An offer of securities is not subject to the jurisdiction of the administrator in the state where the issuer is headquartered.

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