Series 63 practice questioneasyNotice Filing Requirement
A mutual fund registered under the Investment Company Act of 1940 wishes to offer shares in State Y. What may the State Y Administrator require?
- ANotice filing and payment of a filing fee✓ Correct answer
- BRegistration by qualification
- CRegistration by coordination
- DNo filings or fees may be required
Explanation
Why A — Notice filing and payment of a filing fee
State Administrators may require notice filing and a fee for federal covered securities like mutual funds. They cannot require full registration, but can request copies of SEC filings and fees.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Regulation of Broker-Dealers & Agents questions
- Which of the following best describes a security that is 'federal covered'?
- Which security would require registration with the state Administrator under the USA?
- A broker-dealer is underwriting an IPO for a company intending to list its shares on the NYSE. The broker-dealer wishes…
- Under the National Securities Markets Improvement Act (NSMIA), which of the following is NOT subject to state…
- If an agent sells shares of an SEC-registered open-end mutual fund to a client in State Z, which of the following…
- An agent in State A is offering shares of a company listed on the NASDAQ Stock Market. Under the USA, the Administrator…
- Which of the following private placements is considered a federal covered security under Section 18 of the Securities…
- Which of the following is considered a federal covered security under the Uniform Securities Act (USA)?