Series 63 practice questioneasyBroker-Dealer Registration — Requirements
Which of the following is NOT required in a broker-dealer's registration application?
- AThe applicant's form and place of organization
- BThe applicant's proposed method of doing business
- CThe names of all clients the applicant intends to solicit✓ Correct answer
- 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.
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.
Related Regulation of Broker-Dealers & Agents questions
- As part of the broker-dealer registration process, the applicant must file with the Administrator a consent to service…
- A broker-dealer files a notice of withdrawal from registration with the state Administrator. When does the withdrawal…
- Once registered, a broker-dealer's registration expires:
- When a registered broker-dealer merges with another firm and creates a successor entity, the successor firm: