Series 63 practice questionmediumAgent Registration — Dual Registration
For a licensing checkpoint quiz, treat the following as the opening fact pattern. The key is the registration, exemption, or ethical rule doing the real work. Agent Jane is currently registered with Broker-Dealer A in State X. She wants to also represent Broker-Dealer B in the same state. Which of the following is TRUE?
- AJane may represent both firms without any additional registration, provided both firms consent
- BJane must register separately with the state as an agent of Broker-Dealer B, with written consent from both firms✓ Correct answer
- CDual registration is prohibited under the Uniform Securities Act
- DJane must resign from Broker-Dealer A before she can register with Broker-Dealer B
Explanation
Why B — Jane must register separately with the state as an agent of Broker-Dealer B, with written consent from both firms
The USA does not prohibit dual registration, but an agent must be separately registered through each broker-dealer she represents. Both broker-dealers must provide written consent for the dual arrangement. Simply having one registration does not extend to work performed on behalf of another firm. The exam trick is the framing, not the underlying Uniform Securities Act rule.
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