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← Series 63: Regulation of Securities & Issuers
Series 63 practice questionmediumSecurities Registration — Qualification

A training manager asks you to analyze the following USA issue. Treat the facts as a straight Series 63 application question. Which of the following is required for registration by qualification but NOT for registration by coordination?

  1. AA consent to service of process
  2. BA copy of the security being offered
  3. CPayment of a filing fee
  4. DDetailed information about the issuer's directors, officers, and 10% shareholders including their security holdings and compensation✓ Correct answer
Explanation

Why D — Detailed information about the issuer's directors, officers, and 10% shareholders including their security holdings and compensation

Under USA Section 304, registration by qualification requires the most extensive disclosure, including detailed biographical and financial information about directors, officers, and principal shareholders. Registration by coordination under Section 303 relies on the SEC filing for much of this information, making it less burdensome at the state level. This variant keeps the same legal rule but shifts the setup so recall has to stay flexible.

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