WELLCARE ACT Mastery Exam Review Questions and
Answers () (Verified Answers)
Exempt securities must re-establish their exemption annually in order to be sold
lawfully in the state.
remember this
A material fact is deliberately omitted in a sales presentation because it was
publicly known 4 years ago = PROHIBITED
remember
A registration statement for new issues of securities under the USA is effective
for more than one year after its effective date:
if the issuer or broker/dealer offering the securities has an unsold allotment
covering those instances where an investment adviser might act an as agent for
both sides of a trade involving his advisory clients. In order to perform in this
manner, the USA
prohibits the IA from making the recommendation to BOTH sides.
16. State securities Administrators can require:
agents to post a surety bond if they have discretion over client funds and securities.
Uniform Securities Act imposes certain recordkeeping requirements upon
registered broker/dealers. Among the records that must be retained are all of
these EXCEPT
unsolicited testimonials from customers.
able to split commission with principal under same roof
remember that
A person applying for an initial registration as an agent might be asked to provide
all of the following
-proposed method of doing business.
-a consent to service of process.
-citizenship information.
NOT REQUIRED; fingerprints
According to the Uniform Securities Act, agents may NOT:
(1) act as custodian of a customer's funds and securities **
(2) share commissions from the purchase or sale of securities with any agent not
registered as an agent for the same broker/dealer, or for a broker/dealer under direct or
indirect common control.
(3) share in the profits and losses of an account without written consent of the client and
authorization from the employing broker/dealer.
(4) mply that a conservative investment strategy will guarantee a specific investment
result will be achieved.
could result in a revocation or suspension of an agent's license as a result of a
violation of NASAA's Statement of Policy on Dishonest or Unethical Business
Practices of Broker/Dealers and Agents?
Answers () (Verified Answers)
Exempt securities must re-establish their exemption annually in order to be sold
lawfully in the state.
remember this
A material fact is deliberately omitted in a sales presentation because it was
publicly known 4 years ago = PROHIBITED
remember
A registration statement for new issues of securities under the USA is effective
for more than one year after its effective date:
if the issuer or broker/dealer offering the securities has an unsold allotment
covering those instances where an investment adviser might act an as agent for
both sides of a trade involving his advisory clients. In order to perform in this
manner, the USA
prohibits the IA from making the recommendation to BOTH sides.
16. State securities Administrators can require:
agents to post a surety bond if they have discretion over client funds and securities.
Uniform Securities Act imposes certain recordkeeping requirements upon
registered broker/dealers. Among the records that must be retained are all of
these EXCEPT
unsolicited testimonials from customers.
able to split commission with principal under same roof
remember that
A person applying for an initial registration as an agent might be asked to provide
all of the following
-proposed method of doing business.
-a consent to service of process.
-citizenship information.
NOT REQUIRED; fingerprints
According to the Uniform Securities Act, agents may NOT:
(1) act as custodian of a customer's funds and securities **
(2) share commissions from the purchase or sale of securities with any agent not
registered as an agent for the same broker/dealer, or for a broker/dealer under direct or
indirect common control.
(3) share in the profits and losses of an account without written consent of the client and
authorization from the employing broker/dealer.
(4) mply that a conservative investment strategy will guarantee a specific investment
result will be achieved.
could result in a revocation or suspension of an agent's license as a result of a
violation of NASAA's Statement of Policy on Dishonest or Unethical Business
Practices of Broker/Dealers and Agents?
