SIE practice questionmediumSecurities Exchange Act of 1934
Which of the following is required to register as a broker-dealer under the Securities Exchange Act of 1934?
- AFirms that effect securities transactions for others✓ Correct answer
- BMutual funds
- CIssuers only
- DCompanies trading only government bonds
Explanation
Why A — Firms that effect securities transactions for others
Broker-dealers must register if they execute transactions for others. Mutual funds register under the 1940 Act. Issuers and government-only traders are not always broker-dealers.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Capital Markets & Offerings questions
- Regulation D primarily covers which type of securities offering?
- A company wants to issue shares to the public for the first time. What must they generally provide under the Securities…
- Regulation A+ allows eligible companies to:
- A public company must file Form 10-K with the SEC under which law?
- Which security is generally exempt from registration under the Securities Act of 1933?
- What is the key investor qualification for purchasing under a Regulation D Rule 506(c) offering?
- Which of the following is NOT a reporting requirement under the Securities Exchange Act of 1934?
- Regulation A+ provides an exemption from registration for: