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Series 66 Sample Questions

 

An agent knowingly sells an unregistered exempt security to a number of non accredited investors. According to the USA which of the following are true ?

I. The agent must offer rescission.
II. The agent has engaged in a pattern of unethical practices.
III. The agent does not have to offer rescission.
IV. The agent could be held both civilly and criminally liable for their actions.

A) I and IV
B) II and IV
C) III only
D) IV only

An institutional investor is all of the following except:

A) An insurance company
B) An employee benefit plan with $1,300,000 in assets
C) An accredited investor with $2,500,000 in their account
D) A bank

To maintain registration, the administrator may require:

A) All sales literature and advertising to be distributed to the public be filed prior to use
B) All accounting records and financial records as well as customer account files, order tickets, and correspondence be kept on file for at least three years
C) An Investment Advisory Brochure be provided to prospective clients 48 hours before entering into an advisory contract
D) All of the choices listed

A local appliance store is promoting it annual fourth of July sale. It has significantly marked down large screen TVs. Also anyone who purchases a large screen TV will receive a $100 US Savings Bond. Which of the following is true?

A) The salesman at the store must registered as the gift of the bond attached to a sale is considered a sale.
B) The salesman at the store need not register as the savings bond is an exempt security
C) Using a security as an enticement for a person to make a large purchase is a violation of the USA
D) Using a government security as an enticement for a person to make a large purchase is fraudulent and subject to criminal prosecution.

Creating false activity in a security to attract new purchaser is a fraudulent practice known as:

A) Trading ahead
B) Active concealment
C) Front running
D) Painting the tape

As it relates to the Uniform Securities Act which of the following are securities ?

I. A Futures contract on a blue chip stock.
II. A futures contract on light sweet crude oil.
III. A put contract on the S & P 500
IV. A variable annuity's separate account.

A) I and IV
B) III and IV
C) I, II, III, and IV
D) I, III and IV

An agent employed by a brokerage firm solicits a customer's business in a state where the brokerage firm is not registered. Which of the following is not true ?

A) The agent need not register as it is a isolated non issuer transaction.
B) The agent has committed a violation
C) the firm must track its isolated transactions
D) This is an exempt transaction

A Canadian broker dealer regularly conducting business with an insurance company with in the state is:

A) Required to file an application for registration
B) Not required to register
C) Required to file a consent to service of process
D) Required to notify the administrator

A registered broker dealer must do which of the following ?

I. Pay SIPC dues
II. Display the SIPC sign
III. Post a fidelity bond
IV. Obtain fingerprint record for associated persons

A) I and III
B) I, II, III and IV
C) I, II, and III,
D) I and II