🏦LTB
← Series 63: Regulation of Broker-Dealers & Agents
Series 63 practice questioneasyBroker-Dealer Registration — Requirements

On a final review set, the question is presented in this context. Focus on what changes once the scenario is viewed through state law. Which of the following is NOT required in a broker-dealer's registration application?

  1. AThe applicant's form and place of organization
  2. BThe applicant's proposed method of doing business
  3. CThe names of all clients the applicant intends to solicit✓ Correct answer
  4. DQualifications and business history of the applicant
Explanation

Why C — The names of all clients the applicant intends to solicit

Under USA Section 202(a), a broker-dealer registration application must include the form and place of organization, proposed method of doing business, qualifications, and business history, among other items. A list of prospective clients is not required, as client relationships have not yet been established at the time of registration. The extra setup is just noise; the controlling state-law rule stays the same.

Turn it into reps

Reading one answer is not the same as being ready

Lucky the Banker is a free practice app with 646+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.

Practice Series 63 freeSeries 63 exam guide
Related Regulation of Broker-Dealers & Agents questions