Investment Jobs Securities Licensing Test 2

Question 1

The Series 66 license combines the content of which two exams?

Accepted Answer

Series 63 and Series 65

Answer

Series 6 and Series 63

Answer

Series 7 and Series 63

Answer

Series 65 and Series 7

Question 2

Which license is specifically required to sell variable annuities and variable life insurance products?

Accepted Answer

Series 6

Answer

Series 3

Answer

Series 22

Answer

Series 51

Question 3

What does NASAA stand for in the context of securities licensing?

Accepted Answer

North American Securities Administrators Association

Answer

National Association of Securities and Advisers Act

Answer

National Agency for Securities Administration Accreditation

Answer

New Age Securities and Asset Administration

Question 4

A broker-dealer principal who supervises registered representatives must hold which license?

Accepted Answer

Series 24

Answer

Series 7

Answer

Series 65

Answer

Series 14

Question 5

How many continuing education credits must most FINRA-registered representatives complete annually?

Accepted Answer

Firm Element CE is annual; Regulatory Element is every 3 years

Answer

6 hours

Answer

12 hours

Answer

24 hours every 2 years

Question 6

Which US regulation requires broker-dealers to maintain records of all securities transactions for a minimum of three years?

Accepted Answer

SEC Rule 17a-4

Answer

FINRA Rule 2010

Answer

Sarbanes-Oxley Act

Answer

Dodd-Frank Act