Series 66 Exam Lesson 55 Securities Act of 1933 Quiz
This is a Series 66 Exam Lesson 55 Securities Act of 1933 Quiz: a free quiz for Series 66 Exam Lesson 55 Securities Act of 1933 Quiz. Try it and see how you do if you need help listen to the lesson over.
Series 66 Exam Lesson 55 Securities Act of 1933 Quiz
This is a Series 66 Exam Lesson 55 Securities Act of 1933 Quiz. Try it and see how you do if you need help listen to the lesson over.
Questions covered include
1. It is the law that requires companies to give full and fair disclosure of information if they want to go public.
A. Investment Company Act of 1940
B. Dodd-Frank Act
C. Securities Act of 1933
D. Securities Exchange Act of 1934
2. This is the registration statement that a company must file if the company wants to go public.
A. Form 144-A
B. Form D
C. Form RS-1
D. Form S-1
3. The registration statement is filed with the ___.
A. Financial Industry Regulatory Authority
B. National Association of Securities Dealers
C. New York Stock Exchange
D. Securities and Exchange Commission
4. After the company that wants to go public has filed the registration statement, its investors can already trade their stocks publicly.
A. True
B. False
5. It contains full and fair disclosure about the company that is going public and the risks involved in investing in the company.
(Select all that apply.)
A. comprehensive prospectus
B. final prospectus
C. preliminary prospectus
D. unabridged prospectus
6. The Securities Act of 1933 attempts to curb speculation in new issues securities by preventing the ability to margin stock or borrow against the new issues securities.
A. True
B. False
7. A person buys and sells stock in a regular account. Under current margin requirements set by the Federal Reserve board, he can margin his securities at ___.
A. 50%
B. 55%
C. 60%
D. 65%
8. When the SEC has confirmed that the company has given a full and fair disclosure of information, the company enters into a quiet period for ___ days.
A. 10
B. 20
C. 25
D. 40
9. Which of the following is NOT allowed during the quiet period following the SEC’s confirmation of the company’s full and fair disclosure?
(Select all that apply.)
A. brokers soliciting orders to buy the stock
B. company distributing their preliminary prospectus
C. insiders selling the stock
D. underwriters recommending the stock
10. If the SEC finds that there is no full and fair disclosure from the company that wants to go public, ___.
(Select all that apply.)
A. the SEC would send a deficiency letter back to the company and require additional disclosure
B. the company would be charged of giving false, misleading, and/or inadequate information
C. the company has to refile a registration statement addressing the concerns of the SEC
D. the company’s operations would be suspended for 20 days before they could file another registration statement
11. Which of the following information is contained in the initial offering prospectus?
(Select all that apply.)
A. background of the officers and directors
B. different risks of the offering
C. final offering price on the new issue
D. management discussion on what the company does
12. The purchaser of the stock must have the final prospectus prior to the settlement of the sale.
A. True
B. False
13. For initial public offerings, the company has ___ days to deliver the final prospectus to the customer after the order is taken.
A. 20
B. 25
C. 40
D. 90
14. To sell a 144 stock, the holder of that stock must have held that stock fully paid for at least ___.
A. four months
B. six months
C. one year
D. two years
15. Which of the following is considered a control person? (Select all that apply.)
A. officers
B. directors
C. 10% shareholders
D. affiliated persons
16. An insider owns 15% of a publicly traded stock on electronic exchange. It would take him at least ___ days to dribble out and sell all of his stocks.
A. 450
B. 900
C. 1350
D. 2700
17. Which of the following are exempt transactions under the Securities Act of 1933?
(Select all that apply.)
A. interstate transactions
B. government bonds
C. penny stocks
D. private placements
18. In order to be qualified to purchase an exempt offering, an investor must be ___.
(Select all that may apply.)
A. a control person
B. accredited
C. an insider
D. sophisticated
19. Anyone can buy private placements as long as the buyer is registered with the Securities and Exchange Commission.
A. True
B. False
20. The Securities and Exchange Commission does not require registration of Regulation D offerings.
A. True
B. False
Series 66 Exam Lesson 55 Securities Act of 1933 Quiz
We hope you did well on this
———————————
The Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative.
The other possible exam would be the series 65 examination.
The Series 66 exam — the NASAA Uniform Combined State Law Examination — is a North American Securities Administrators Association (NASAA) exam administered by FINRA.
The exam consists of 100 scored questions. Candidates have 150 minutes to complete the exam. In order for a candidate to pass the Series 66 Exam, he/she must correctly answer at least 73 of the 100 scored questions.
There is no prerequisite for the Series 66 examination. However, the SIE and the Series 7 examination are co-requisites to the Series 66 Examination.
What is the Series 65 Exam?
The Series 65 is another path to becoming an Investment Advisor Representative (IAR)
Sometimes called the IAR in a box
Unlike the Series 66 Exam the Series 65 exam does not have the Series 7 Requirement
The Series 65 unlike broker-dealer exams (think the Series 7 Exam) the Series 65 Exam requires no company sponsor.
When taking the Series 66 to join an RIA firm as a IAR, candidates must complete the exam within 150 minutes. A passing score is 73%, which translates to correctly answering 73 of the 100 scored questions. The NASAA, which administers the exam, does not release Series 66 pass rates. But this is a TOUGH exam, many people do not pass on the first try.
Again requisites for this exam are the SIE Exam and the Series 7 Exam Top Off
The test covers financial industry regulation, securities law, ethics, investments and economics. All these topics factor into a financial advisor’s day-to-day work. Most candidates devote considerable time to studying for the Series 65.
Different States have different requirements in become an Investment Advisor Representative (IAR) so check your states department of securities licensing to find out its requirements.
Series 66 Exam Free Audio Lesson 13
Series 66 Exam Free Audio Lesson 13 is a lesson for the Series 66 Exam which can lead to the candidate being licensed as an Investment Advisor Representative.
The Series 66 Exam consists of 100 questions. When taking the Series 66 to join an RIA firm as a IAR, candidates must complete the exam within 150 minutes. A passing score is 73%, which translates to correctly answering 73 of the 100 scored questions. The Financial Industry Regulatory Authority, which administers the exam, does not release Series 66 pass rates. But this is a TOUGH exam, many people do not pass on the first try.
The test covers financial industry regulation, securities law, ethics, investments and economics. All these topics factor into a financial advisor’s day-to-day work. Most candidates devote considerable time to studying for the Series 66.
The other possible exam path to become a IAR would be the series 65 examination.
What is the Series 65 Exam?
Unlike the Series 66 Exam the Series 65 exam does not have the Series 7 Requirement
The Series 65 unlike broker-dealer exams (think the Series 7 Exam) the Series 65 Exam requires no company sponsor.
Different States have different requirements in become an Investment Advisor Representative (IAR) so check your states department of securities licensing to find out its requirements.
Series 65 vs Series 66 Exam
The Series 65 exam is designed for those who do not have a Series 7 license. The content of both exams are similar though the Series 65 will be more heavily concentrated on Investment products and economics (like you would need to learn for the SIE and Series 7 Exam). … The Series 66 exam has a little more State law (such as what you will find in the Series 63 Exam) and some esoteric investment products.
Our audio lessons for both the Series 65 and Series 66 cover the material you would need to learn for the SIE and Series 7 exam so it may be a little more than you need for the Series 66 but we want you to be fully prepared!
The only difference between the two series of exam lessons (the 65 and 66) is that the Series 66 exam also covers the material needed for the Series 63 exam.
Our other website s for FINRA and other certification Exams include:
https://www.series7podcast.com
https://www.series7podcast.com
https://insuranceexampodcast.com
https://insuranceexampodcast.com
https://www.reexampodcast.com/
Podcast: Play in new window | Download