Series 63 Exam Prep
What’s this Series 63 exam? You would think that after passing the SIE exam (Securities Industries Essentials) and then the Series 7 exam you would be ready to start selling investment products for a broker dealer. Unfortunately this is not true you have one more hoop to jump through, one more examination to take, its called the Series 63 exam. And we can help you in your Series 63 Exam Prep.
Series 63 is required for individuals seeking to register as securities agents or registered reps with a state securities administrator. Think of the Series 7 and SIE exam as federal examinations and the series 63 as a state examination. We cannot let the federal regulators have all the fun the state regulators need to step in as well. (They have to justify their existence somehow and the way regulators justify their existence is to regulate)
The Series 63 exam, also called the Uniform Securities State Law Examination, is a North American Securities Administrators Association (NASAA) exam and administered by FINRA.
The exam consists of 60 scored questions. Candidates have 75 minutes to complete the exam. In order for a candidate to pass the Series 63 exam, he/she must correctly answer at least 43 of the 60 scored questions (71.667% required to pass).
We have audio lessons to help you prepare for the series 63 exam.
Series 63 Exam Audio Study Lessons
Series 63 Exam lesson Introduction Intro
About the Exam
Series 63 Exam lesson 1 Business Practices customer accounts part 1
Cash accounts and
Client information requirements
Margin accounts
Information requirements
Individual Accounts
Joint Accounts
Transfer on Death
Discretionary Authority
Suitability of investments
Wash trades
Solicited orders vs unsolicited orders
Suitability Rules
Customer communication of risks
Fiduciary Rules: Broker Dealer vs Investment Advisor
Settlement
Reg T
Short Sales
Comingling Stocks
Proprietary positions of Broker Dealer
Client Taking Possession of Securities
Series 63 Exam lesson 2 Business Practices customer accounts part 2
Antifraud Rules
Client Consent
Contract Requirements
Investment Advisory Agreement Requirements
Sharing of Gains and Losses
Brochure requirements
ADVA pt 2a pt2b
Custody of Client Assets
Series 63 Exam lesson 3 Business Practices customer accounts part 3
Borrowing Money from Customers
Loaning Money to Customers
Commissions’
Disclosure
Customer Complaints
Trading Practices
Tipper Tipee rules
Penalties for Insider Trading
Front Running
Initial Public Offerings
Advertising
Testimonials
Internet Advertising
Email Communication
Selling Away
Referral Fees
Series 63 Exam lesson 4 Business Practices
Uniform Prudent Investor Act
Diversification
Concentrated Portfolios
Prohibited Transactions
Block Trades
Conflicts of Interest
Not Not May Rules
Promissory Note Fraud
Anti-Money Laundering Rules
Suspicious Activity Reports
Privacy Statement
Orders and Order Confirmations
Do It Rule
Limit Order Display Rule
Payment for Order Flow
Series 63 Exam lesson 5 Registration & Licensing part 1
Blue Sky Laws
Conflicts between Fed and State
Definitions
Issuer
Non Issuer
Agents
Principal
Intuitional Buyers
Exclusions
De Minimis Rule
Exempt Securities
Isolated Transaction Loophole
Covered Securities
Qualified Purchaser
Series 63 Exam lesson 6 Registration & Licensing part 2
Financial Advisors
State Registration vs. Fed Registration
National Securities Improvement act of 1996
Investment Advisor Representative
Broker Dealer Agent
Exclusions
Exemptions
Fees
U4 Form
U5 Form
CRD
Series 63 Exam lesson 7 Registration & Licensing part 3
Registration Requirements
Net Capital
Individual vs. Entity
Surety Bond
Custody of Assets
Financial Report
Maintaining Registration
Record Keeping Requirements
Record Retention
Broker Dealer Records Act of 1934
Advertising
Email Correspondence
Electronic Record Keeping
Brochure Rule
Statute of Limitations
Suspensions
Withdrawing from the Business
Series 63 Exam lesson 8 Securities Registration
Definition of Security
Exempted Securities
Federal Covered Securities
Definition of Sale and Offer
Registration by Filing
Registration by Coordination
Registration by Qualification
Revocation of Registration
Hearing Requirements
Series 63 Exam lesson 9 Administrative Procedures
Penalties
Investigations
Non Public and Public Investigations
Grounds for Suspension or Revocation
Cease and Desist Orders
Criminal Liability
Civil Liability
Offer of Rescission
Radio and Newspaper Offers
Web Pages