Series 63 practice questioneasyAgent definition
According to the USA, which of the following individuals is considered an agent?
- AAn employee of a broker-dealer who solicits securities transactions.✓ Correct answer
- BA partner of a broker-dealer who only handles administrative matters.
- CAn individual who represents an issuer in exempt transactions only.
- DA clerk at a broker-dealer who does not solicit or sell securities.
Explanation
Why A — An employee of a broker-dealer who solicits securities transactions.
Agents are individuals who represent broker-dealers in effecting or attempting to effect securities transactions (USA Sec. 401(b)). Administrative staff and clerks are not considered agents, nor are those representing issuers solely in exempt transactions.
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