Series 6 Exam Study Guide
On the 2-year anniversary of their registration and every 3 years thereafter. - >>>>When must
RRs complete the Regulatory Element of Continuing Education?
True - >>>>True or False: Firm Eleme
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Series 6 Exam Study Guide
On the 2-year anniversary of their registration and every 3 years thereafter. - >>>>When must
RRs complete the Regulatory Element of Continuing Education?
True - >>>>True or False: Firm Element Continuing Education requires BDs to update
employees on job and product-related subjects.
U4 - >>>>To apply for a securities license, one must file Form _____ with FINRA.
Action (buy/sell), Amount (quantity), and Asset (security) - >>>>What three items must be
specified on a not held order
A not held order will be considered a day order. - >>>>For how long may a not held order be
maintained?
The Trust Indenture Act of 1939 regulates corporate bond offerings (NOT municipal or
government offerings). - >>>>The Trust Indenture Act of 1939 regulates ________________
offerings.
state and local tax. - >>>>Though subject to federal tax, interest on Treasuries is exempt from
________ and ________ tax.
True. The interest is taxed at the federal, state, and local level. - >>>>True or False: Interest paid
on GNMA, FNMA, FHLMC, and SLMA agency bonds is fully taxable to investors.
new issues. - >>>>The Securities Act of 1933 regulates _____________.
Provide investors with full and fair disclosure regarding new issues (prospectus) - >>>>What is
the primary purpose of the Securities Act of 1933?
False - >>>>True or False: The SEC judges an offering's investment merit and provides
approval.
Government/municipal bonds, commercial paper, bankers' acceptances, bank issues, non-profit
and small business issues - >>>>List the securities that are exempt from registration.
anti-fraud - >>>>Though some securities are exempt from registration, nothing is exempt from
the ____________ provisions of the Act.
35 is the maximum number of non-accredited investors allowed in a Private Placement. -
>>>>____ is the maximum number of non-accredited investors allowed in a Private Placement.
Yes, so potential purchasers can provide indications of interest. - >>>>May a preliminary
prospectus (red herring) be sent during the cooling-off period?
non-binding - >>>>Indications of interest are _______________ on both the customer and BD.
Return the check to the customer - >>>>What should an RR do if a client sends a check to
purchase securities going through the cooling-off period?
True - >>>>True or False: If a registration statement has not been filed with the SEC, BDs may
not discuss new issue information.
final offering price - >>>>The ____________________ will not appear in a red herring.
Blue-Sky Laws - >>>>What rules govern the registration of an issue in any state in which it will
be offered?
true - >>>>True or False: Blue-Sky Laws apply to broker-dealers and agents operating within a
state
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