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← 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. Prioritize the registration trigger and ignore irrelevant noise. 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. This variant keeps the same legal rule but shifts the setup so recall has to stay flexible.

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