Which of the following broker-dealers is NOT required to register in State Z under the USA?

1. AA firm with an office in State Z and institutional clients only
2. BA New York-based firm with no office in State Z but with two retail clients in State Z
3. CA firm with no office in State Z dealing exclusively with issuers, other BDs, and institutional investors in State Z✓ Correct answer
4. DA broker-dealer with no office in State Z, but with 10 retail clients in State Z

Reading one answer is not the same as being ready

Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.

• An agent wants to represent two non-affiliated broker-dealers in the same state under the USA. Which is TRUE?
• When an agent files to withdraw registration, when does withdrawal generally become effective under the USA?
• Which of the following is required on an agent’s application for registration under the USA?
• A broker-dealer is acquired by another firm. Under the USA, how can the successor firm continue business without…
• A broker-dealer is registered with the SEC as a federal covered BD but has an office in State Y. Under the USA, which…
• Assuming all documentation is in order and the Administrator does not take action, when does an agent's registration…
• As part of the broker-dealer registration process, the applicant must file with the Administrator a consent to service…
• A broker-dealer with no office in State X has one retail client residing in State X. Under the USA, which statement…