Nigel is a successful agent of a Canadian broker-dealer in Manitoba. The firm he works for has no offices in the U.S., and he has no interest in moving to the U.S. One of his biggest clients, Beatrice, is in temporary residence in Minnesota settling her mother’s estate. Nigel wants to keep Beatrice as a client but he is not registered in the U.S. and doesn’t know if he can continue to work with Beatrice under the current situation. What is your advice?

Nigel can transact business for Beatrice after he obtains a limited registration in Minnesota.

Nigel needs to bite the bullet and move to the U.S. where he can register in Minnesota and continue to transact business for Beatrice, including possibly reinvesting any proceeds of her mother’s estate.

Nigel cannot continue to transact business for Beatrice, since he is not registered in Minnesota and does not want to move to the U.S.

Nigel can transact business for Beatrice without problems. Canada and the U.S. have a reciprocity agreement that allows such international business relationships.

Nigel can transact business for Beatrice after he obtains a limited registration in Minnesota.

QuidProQuoCo has registered as a broker-dealer. Tom, Dick, Harry, and Jane are the partners. Harry is a silent partner. Lulu is the CEO (president and chief executive officer). Ted is the CFO (chief financial officer). Sam is the COO (chief operating officer and head of human resources). QuidProQuoCo has a board of directors made up of some partners, some officers, and some employees. According to the Uniform Securities Act, when the firm registered as a broker-dealer, did all of the partners, officers, directors, and employees automatically become registered as agents?

Only those partners, officers, and directors who are actively engaged in the business and performing the functions of an agent would automatically become registered as agents.

Yes, all were automatically registered as agents of the broker-dealer.

All of the partners, officers, and directors were automatically registered as agents of the broker-dealer.

Each person who is actively engaged in the business and performing the functions of an agent would register separately as necessary.

Only those partners, officers, and directors who are actively engaged in the business and performing the functions of an agent would automatically become registered as agents.

Wendy likes the idea of “performance-based” compensation. In college she worked in retail sales and liked earning a commission, which increased her paycheck for every sale she made. After graduating a year ago, she took a job as an investment adviser representative and loves the “sales” aspect of this job, too. She lives frugally, other than her clothing budget, and has already saved about $12,000 that she wants to invest. She does not own a house or have any other significant assets. She meets with Priya, another investment adviser representative in her firm who knows her well, to discuss the possibilities. Priya suggests that she (Priya) be compensated 20% of any gains made above an annual 5% return benchmark in Wendy’s account. Is this type of compensation acceptable?

Yes, performance-based compensation is acceptable for Wendy because she is an IAR at an advisory firm.

No, because Wendy is not an accredited investor by the SEC’s definition.

No, because Priya is not a broker-dealer.

Yes, performance-based compensation is acceptable for Wendy because she is an IAR at an advisory firm.

No, because performance based fees are always prohibited.

Which of the following are prohibited in advertisements offered by investment advisers?

Listing the performance of all past stock picks in the last 12 months and stating that past performance does not reflect future performance

Offering free services with the intention of delivering those services

All of the choices are prohibited

Projecting the future investment performance of a security based upon past investment performance of that security is:

permitted only with the use of 90-day moving averages

permitted only when supplied by the issuer

permitted when at least 10 years of historical performance is used to make the projection

Which of the following is considered a "person" under the Uniform Securities Act?

A 20-year-old man who has been declared mentally incompetent in a court of law

When a broker-dealer withdraws its registration, what happens to the registrations of agents employed by the broker-dealer?

the agents' registrations remain active as long as they register with another broker-dealer within 30 days

the agents' registrations are lost until they register with another broker-dealer

the agents' registrations are null and void and they must repeat all necessary licensing examinations

the agents' registrations remain active as long as they register with another broker-dealer within 30 days

the agents' registrations remain active

A broker-dealer specializing in Canadian government bonds wishes to advertise a new issue to prospective investors. The Administrator will most likely:

request approval of the advertisement from the Canadian government

require filing of the advertisement

Series 63 Sample Quiz - Solomon Exam Prep

SERIES 63 ONLINE STUDY GUIDE

If you want to study for your NASAA Series 63 exam as efficiently as possible, "The Solomon Exam Prep Guide to the Series 63" is for you! At less than 200 pages, the study guide cuts to the chase, providing contextual background and real-world tips to help you memorize and apply the rules on the exam. Written by Ken Clark (who scored a 100% on his Series 63 exam!), "The Solomon Exam Prep Guide to the Series 63," comes with two (2) complete practice exams, short quizzes after each chapter and a helpful glossary.

To see a sample of the online Study Guide, click here.

If you want to study for your NASAA Series 63 exam as efficiently as possible, "The Solomon Exam Prep Guide to the Series 63" is for you! At less than 200 pages, the study guide cuts to the chase, providing contextual background and real-world tips to help you memorize and apply the rules on the exam. Written by Ken Clark (who scored a 100% on his Series 63 exam!), "The Solomon Exam Prep Guide to the Series 63," comes with two (2) complete practice exams, short quizzes after each chapter and a helpful glossary.

The Study Guide is available in your online Solomon account (this digital guide requires Internet connection and is not downloadable).

To see a sample of the online Study Guide, click here.

If you'd like a physical book, a hard copy upgrade is available (shipping & handling will apply) that contains the same content as the online version in your Solomon account.

To see a sample of the hard copy Study Guide, click here.

Please note: This sample of the hard copy is in PDF form to show the look of the hard copy only, but Solomon Study Guides are not available as PDFs.

SERIES 63 EXAM SIMULATOR

Designed to work with the Solomon Series 63 Study Guide, the Solomon Series 63 Exam Simulator offers thousands of practice questions so you can hone, track and assess your knowledge. Once you’ve read the Study Guide, the Exam Simulator allows you to use and practice what you've learned. Comes with Pass Probability™, Solomon’s industry-leading AI technology that measures your readiness to pass your exam.

Sample a free demo of our Series 63 Online Exam Simulator here!

Designed to work with the Solomon Series 63 Study Guide, the Solomon Series 63 Exam Simulator offers thousands of practice questions so you can hone, track and assess your knowledge. Once you’ve read the Study Guide, the Exam Simulator allows you to use and practice what you’ve learned.

The 180-day subscription to the Solomon Series 63 Exam Simulator offers:

• Over 1,700 original Series 63 practice questions with robust rationales which clearly explain why a specific answer is correct

• Questions updated continually to keep up with regulatory and industry changes

• Self-assessment tools that helps you identify areas that require more study

• Pass Probability™ technology calculates the probability that you will pass your test

• An unlimited number of 20-question quizzes corresponding to the chapters of our Exam Study Guide

• An unlimited number of 65-question untimed practice exams with immediate answer feedback

• An unlimited number of 65-question timed practice exams

Exam simulator subscriptions are limited to one individual.

Sample a free demo of our Series 63 Online Exam Simulator here!

SERIES 63 VIDEO LECTURE

Do you have to take the NASAA Series 63 Exam? Solomon Exam Prep’s president Jeremy Solomon will take you through the most heavily tested topics including regulation of investment advisers, post-registration requirements, regulation of broker-dealers, remedies and administrative provisions, ethical practices, fiduciary obligations, and much more!

View a sample of the Video Lecture here.

Do you have to take the NASAA Series 63 Exam? Solomon Exam Prep’s president Jeremy Solomon will take you through the most heavily tested topics including regulation of investment advisers, post-registration requirements, regulation of broker-dealers, remedies and administrative provisions, ethical practices, fiduciary obligations, and much more!

This 3-hour video lecture goes over basic knowledge you will encounter on the exam. The videos are viewable on-demand for 180 days.

The Series 63 Video Lecture is viewable through our website and can be accessed via computer or mobile device.

View a sample of the Video Lecture here.

SERIES 63 AUDIOBOOK

This five-hour audio recording of "The Solomon Exam Prep Guide to the Series 63" will give you the content – the introduction and all six chapters – of this invaluable book in an audio format. After hearing the study guide's real world contextual tips and rule explanations, you will be even more prepared to conquer your Series 63 exam!

To listen to a sample click here.

This five-hour audio recording of "The Solomon Exam Prep Guide to the Series 63" will give you the content – the introduction and all six chapters – of this invaluable book in an audio format. After hearing the study guide's real world contextual tips and rule explanations, you will be even more prepared to conquer your Series 63 exam!

The Series 63 audiobook is a great companion to the Series 63 Online Exam Simulator, the industry-leading online testing program that ensures you are learning and retaining the information.

The Series 63 ("Solomon") audiobook is available in the following formats:

Streaming Audio + Instant MP3 download

The MP3 files are compatible with all major MP3 players, including but not limited to: iPods, iTunes, Zune, Sony, MP3 CD Players, MP3 Walkman, Windows Media Player and QuickTime.

(Note for iPod, iPhone, and iPad users: MP3 files must be downloaded to a computer and added to iTunes before being transferred to your device.)

To listen to a sample click here.

SERIES 63 FLASHCARDS

Learn key definitions and concepts on the FINRA Series 63 exam with the digital Solomon Series 63 flashcards! The perfect supplement to our industry-leading Series 63 study materials, the Solomon Series 63 flashcard pack will help you learn foundational securities industry definitions and concepts with ease.

Learn key definitions and concepts on the FINRA Series 63 exam with Solomon Exam Prep Series 63 exam digital flashcards! The perfect supplement to our industry-leading Series 63 study materials, the Solomon Series 63 flashcard pack will help you learn foundational securities industry definitions and concepts with ease.

Over 150 digital definition cards featuring clear, easy-to-understand definitions
Over 450 true-false cards that feature important Series 63 exam facts
All cards can be organized by chapter, so you can test yourself, as you move through the Solomon study materials
Rating feature allows user to customize deck for targeted learning
Turn on text-to-speech and listen while you learn

Number of Questions	10
Time Duration	Untimed
Answer Feedback Instant validation and rationale
Percentage required to pass	72%