Series 63 practice questionmediumAgent registration - soliciting
Which of the following agents must be registered in a state under the USA?
- AAn agent of a BD soliciting only institutional clients in the state with no office.
- BAn agent of a BD effecting trades with retail clients residing in the state.✓ Correct answer
- CAn agent of a Canadian BD with a pre-existing Canadian client temporarily in the state.
- DAn agent effecting unsolicited, isolated non-issuer transactions.
Explanation
Why B — An agent of a BD effecting trades with retail clients residing in the state.
Agents soliciting or effecting trades with retail clients (B) must register. Institutional-only (A), Canadian exemption (C), and isolated non-issuer transactions (D) are all exempt scenarios.
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