Series 63 practice questioneasyAgent Registration — Requirements
Under the USA, an individual acting as an agent of a broker-dealer in a state must:
- ARegister only with the SEC
- BRegister in the state where the agent conducts business✓ Correct answer
- CObtain a state business license from the Secretary of State
- DFile a separate registration for each customer account
Explanation
Why B — Register in the state where the agent conducts business
Under USA Section 201, it is unlawful for any person to transact business as an agent in a state unless the agent is registered under the Act. Agent registration is required in each state where the individual conducts securities activities on behalf of a broker-dealer.
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