FINRA Series63 real exam prep : Uniform Securities Agent State Law Examination

  • Exam Code: Series63
  • Exam Name: Uniform Securities Agent State Law Examination
  • Updated: Oct 14, 2026
  • Q&As: 251 Questions and Answers

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FINRA Series63 Exam Syllabus Topics:

SectionWeightObjectives
Regulation of Investment Advisers5%- Federal vs state adviser regulation
- Investment adviser registration rules
Regulations of Securities and Issuers9%- Issuer regulation principles
- Securities registration and exemptions
Regulation of Investment Adviser Representatives5%- IAR registration and obligations
- Recordkeeping and contract standards
Regulation of Broker-Dealer Agents13%- Agent registration requirements
- Associated person regulations
Communication with Customers and Prospects20%- Disclosure requirements
- Advertising and correspondence rules
Regulation of Broker-Dealers12%- Federal and state registration standards
- Broker-dealer regulatory requirements
Ethical Practices and Obligations25%- Conflicts of interest and fiduciary duties
- Fraudulent and unethical conduct
Remedies and Administrative Provisions9%- State Administrator authority
- Enforcement and penalties

FINRA Uniform Securities Agent State Law Examination Sample Questions:

Question #1

Mr. Bigwig, CEO of HiGrowth Corporation, meets with the president of BigFee Investment Bankers and arranges for BigFee to underwrite an Initial Public Offering (IPO) for the firm. When the IPO comes to market, GetErDone Broker-Dealers is part of the selling group, which handles the sale of the stock to the public.
In this scenario, which party is acting as a dealer?

  • A. HiGrowth Corporation
  • B. GetErDone Broker-Dealers
  • C. BigFee Investment Bankers
  • D. Mr. Bigwig
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

Which of the following practices would be prohibited in connection with the sale of investment company shares?
I. selling a client shares of a load stock fund when a no load stock fund with the same investment objective exists II. selling the client shares of five S&P 500 Index mutual funds, offered by different fund families III. encouraging a client to swap his money between two funds in the same family without informing him that this creates a taxable event

  • A. I and III only
  • B. I and II only
  • C. II and III only
  • D. I, II, and III
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

Your client calls you with a market order to purchase 500 shares of the stock of Oracle and asks when payment will be due. If today is Wednesday, September 15th, you inform the client that payment is due on

  • A. Friday, September 17th.
  • B. Monday, September 20th.
  • C. Thursday, September 16th.
  • D. Saturday, September 18th.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

You have passed the necessary exams (congratulations!) and are applying for registration as a securities agent.
It is already the end of September. Therefore, you must pay

  • A. the full annual fee, and your license will expire on September 30th next year.
  • B. the full annual fee, and your license will expire on December 31st next year.
  • C. one-fourth of the annual fee required since only one quarter of the year remains.
  • D. the full annual fee, and your license will expire on December 31st this year.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #5

Which of the following statements would not be in violation of NASAA rules regarding the sale of investment company shares?
I. "Investing your money in shares of this money market mutual fund is identical to putting your money in a savings account at a bank, except the money market fund provides a higher return." II. "Our U.S. government bond fund is invested only in government bonds issued by the U.S. government and is, therefore, a risk-free investment." III. "You are investing $22,000 in this fund today. The fund has a 5% load at this investment level, but if you sign a letter of intent to invest another $3,000 within the next 13 months, your load will be reduced to 4%. If something comes up and you can't invest the extra $3,000 within 13 months, you will only need to pay the difference in the two loads."

  • A. I and II only
  • B. III only
  • C. I, II, and III
  • D. I only
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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