Series 63 practice questionmediumFederal Covered Security - Exchange-Listed
A broker-dealer registered in State X is soliciting orders for shares listed on the American Stock Exchange (AMEX). The State X Administrator:
- AMay require registration by coordination
- BMay not require registration or an ordinary notice filing for the exchange-listed shares✓ Correct answer
- CMay deny registration for lack of merit
- DMay require registration by qualification
Explanation
Why B — May not require registration or an ordinary notice filing for the exchange-listed shares
NYSE American exchange-listed securities are federal covered. The Administrator may enforce antifraud law but may not require registration by coordination or qualification, merit review, or an ordinary notice filing for the shares.
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