An agent in State E tells a client that a mutual fund is 'registered in State E,' implying state review of the fund’s investments. Which statement is MOST accurate regarding this representation?

1. AIt is misleading because mutual funds are not registered at the state level✓ Correct answer
2. BIt is accurate, since the fund completed a notice filing
3. CIt is not misleading if the fund is registered federally
4. DIt is acceptable if the fund filed for registration in State E previously

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.

• All of the following are true about state authority over federal covered securities EXCEPT:
• A security previously listed on the NASDAQ, and therefore a federal covered security, is delisted and now trades OTC.…
• An agent at a broker-dealer executes frequent transactions in a retired client's account, claiming it is to take…
• If an Administrator suspects fraud by a mutual fund issuer, which of the following actions is LEAST likely to occur?
• An individual who represents an issuer in a transaction involving which of the following securities would NOT need to…
• A mutual fund's notice filing in State C lapses when the renewal fee is not paid. Which is the Administrator's MOST…
• Which of the following factors would NOT generally be considered by an agent when determining suitability under the…
• Which statement BEST describes the distinction between a state notice filing and state registration of a mutual fund…