Logo ExamsQA
Exit
Official Bank 0/250

Series 63 – Uniform Securities Agent State Law Exam (Series 63) - Finra Exam Questions

Last updated on July 22, 2026

97% Exam Compliance
250 Total Questions
1
Question
When a customer files a complaint with a broker-dealer, I . the broker-dealer must submit the complaint to the firm’s compliance department. II . the broker-dealer must provide a prompt written response to the complainant. III . the broker-dealer must temporarily suspend the activities of any agent named in the complaint.
Options
A I, II and III
B II and III only
C I and III only
D I and II only
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

2
Question
Ms. Connie Fused sent her investment adviser a check, payable to a mutual fund that he had recommended to her.

What must the adviser do in order to avoid being considered the custodian of this account and, thereby, subject to some strict requirements, including a higher minimum net capital?
Options
A He needs to forward the check to the mutual fund within 3 days.
B He needs both to forward the check within 24 hours and to obtain a written statement from Ms.
Fused.
C He needs to get a written statement from Ms. Fused, addressed to the state Administrator,
indicating it was her mistake.
D He needs to forward the check to the mutual fund within 24 hours.
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

3
Question
BondsRUs is a broker-dealer that (unsurprisingly) specializes in bonds. The firm has found that it is
able to sell Treasury bonds that it buys for $90 per $100 of par value for $99 per $100 of par value to
some of its more naïve clients, who never pay attention to the confirmation statements BondsRUs sends them. BondsRUs is guilty of
Options
A nothing. It is acting as a dealer in bonds and, as such, can charge its clients whatever the clients are willing to pay.
unwarranted.
B both B and C.
C fraud.
D overcharging its clients by unreasonable markups. A $9 dealer’s spread on Treasury bonds is
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

4
Question
Jack Bean is employed by Giant Investment Advisers, LLC. His job duties include advising clients on the asset allocations of their portfolios. Jack Bean is
Options
A an administrative assistant.
B an agent.
C an investment adviser representative.
D an investment adviser.
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

5
Question
In its prospectus, the YourMoney Mutual Fund provides charts and tables of its average annual return over the past year, three years, five years, and ten years. The fund’s return has indeed been
phenomenal over this time period, beating the S&P 500 Index by at least 15%. The prospectus states
that this is because the fund invests in securities that are riskier and that, therefore, an investor can expect the fund to continue earning a return higher than the S&P 500 Index. Is YourMoney guilty of any security violations?
Options
A No. YourMoney properly revealed to prospective investors the fact that its higher than average returns are the result of its investment in riskier securities.
B Yes. YourMoney is guilty of fraud in claiming that “an investor can expect the fund to continue earning a return higher than the S&P 500 Index.” Past performance is no indication of future performance.
C No. Regulations require only that the mutual fund provide charts and tables of its average annual returns, with a statement comparing the fund performance with a relevant market index. YourMoney has done this and more.
D Yes. There is no way the fund could have beaten the S&P 500 Index by at least 15% over the past
ten years. The fund is obviously misstating its returns.
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

Finish Practice?

Are you sure you want to finish? This will end your practice session.