Series 63 – Uniform Securities Agent State Law Exam Securities Registration Methods

Question 1

Which method of securities registration is used when an issuer simultaneously files a registration statement with the SEC and registers with state securities authorities?

Accepted Answer

Registration by coordination

Answer

Registration by qualification

Answer

Registration by notification

Answer

Registration by exemption

Question 2

Which method of securities registration under the Uniform Securities Act requires the most complete and extensive disclosure to the state administrator?

Accepted Answer

Registration by qualification

Answer

Registration by notification

Answer

Registration by filing

Answer

Registration by coordination

Question 3

For a registration by coordination to become effective simultaneously with a federal registration, the state registration statement must have been on file for at least how many days?

Accepted Answer

10 days

Answer

5 days

Answer

20 days

Answer

30 days

Question 4

Which type of issuer would most likely qualify to use registration by notification under the Uniform Securities Act?

Accepted Answer

An established company that has been continuously reporting to the SEC for at least 36 months

Answer

A startup company with no prior securities offerings

Answer

A foreign company making its first U.S. public offering

Answer

A company seeking to register only in one state with no federal filing

Question 5

Under the Uniform Securities Act, how long does a securities registration statement remain effective unless renewed or withdrawn?

Accepted Answer

1 year

Answer

6 months

Answer

2 years

Answer

Indefinitely until revoked

Question 6

Which of the following is generally NOT required in a registration by qualification because it would not exist for such an offering?

Accepted Answer

An SEC-filed prospectus incorporated by reference

Answer

A description of the issuer's business operations

Answer

Audited financial statements of the issuer

Answer

The names and addresses of officers and directors

Question 7

Under the Uniform Securities Act, the state administrator may require an impoundment or escrow of offering proceeds as a condition of registration under:

Accepted Answer

Any method of securities registration

Answer

Registration by coordination only

Answer

Registration by notification only

Answer

Registration by qualification only