最新なFINRA Series_63問題集（255題）、真実試験の問題を全部にカバー！

質問 1：
Which of the following describes an "exempt security," as defined by the Uniform Securities Act (USA)?
A. An exempt security is any security that is being sold by an institutional investor, such as a bank, to
another institutional investor, such as another bank or an insurance company.
B. An exempt security is any security being sold as a private placement.
C. An exempt security is any security that is being sold in an isolated non-issuer transaction.
D. An exempt security is one that need not be registered in the state in which it is sold.
正解：D
解説: (Pass4Test メンバーにのみ表示されます)

質問 2：
Kevin has a pair of season tickets to the Boston Red Sox games. He and his wife can't attend all the
games themselves, so Kevin has created "packages" of eight games each that he is listing for sale on
Craig's List. Do these "packages" meet the definition of securities, and, if so, does Kevin need to register
them with the state before offering them for sale?
A. Only if Kevin will be selling the packages at or below cost are the packages not considered to be
securities, in which case Kevin will not have to register them with the state.
B. The packages are not considered to be securities since each package is merely a purchase and sale
agreement between Kevin and another person. There is no third party involved. Because they do not
meet the definition of securities, Kevin does not need to register them with the state.
C. Statements A and B are both true statements.
D. If Kevin will be profiting from the sale of the packages, the packages are defined to be securities, but
since he's selling the packages to only a few people, he will not have to register them with the state.
(Kevin may, however, be guilty of violating ticket scalping laws.)
正解：B
解説: (Pass4Test メンバーにのみ表示されます)

質問 3：
Which of the following may an investment adviser not use in an attempt to solicit new clients?
A. a free financial planning kit, with no obligation on the part of the potential client
B. a complete list of the stocks they have recommended in the past year, even if a statement is included
that states that past performance is no guarantee of future performance
C. a free initial consultation, with no obligation on the part of the potential client
D. testimonials of satisfied clients
正解：D
解説: (Pass4Test メンバーにのみ表示されます)

質問 4：
The trade confirmation must be received by the customer no later than
A. the settlement date.
B. the day after the trade takes place.
C. five business days after the settlement date.
D. one week after the settlement date.
正解：A
解説: (Pass4Test メンバーにのみ表示されます)

質問 5：
Which of the following describes a prohibited practice in the sale of shares of investment companies?
I. Sandy Slacker hands her client the fund's prospectus and tells him that the prospectus will provide him
all that he needs to know about loads and fees associated with the fund.
II. Elliot Eager tells a client who has an investment objective that includes current income that a certain
bond fund has a current yield of 8% and provides the client with a prospectus so that the client can peruse
the average annual returns that the fund has generated in past years when the client has the time.
III. After explaining all the fees and loads involved in two different bond funds as well as the difference
between current yield and total return, Patty shows the client the data on the average annual returns that
the two bond funds provided. She explains to the client that the municipal bond fund has a lower yield
than the similar-risk corporate bond fund because the interest income the client will receive from the
municipal bond fund will be free from federal taxation, while the interest income on the corporate bond
fund is fully taxable.
A. I and III only
B. I only
C. I and II only
D. All the choices describe prohibited practices in the sale of shares of investment companies.
正解：C
解説: (Pass4Test メンバーにのみ表示されます)

質問 6：
Carrie is a registered agent employed by CanDo Broker-Dealers. Her uncle is a minister who regularly
refers his parishioners to Carrie, in return for which Carrie has agreed to donate a quarter of her
commissions from these transactions to the parish. Is Carrie doing anything illegal?
A. Yes. Carrie is splitting her commissions with an entity that is not affiliated with her broker-dealer
B. It depends. If the church itself is a client of CanDo's, then it is considered to be affiliated with
C. No. Carrie is just donating some of her commissions back to the church, and transactions with
D. It depends. As long as the church parishioners are aware of the arrangement between Carrie and
正解：A
解説: (Pass4Test メンバーにのみ表示されます)

質問 7：
Your client calls you with a market order to purchase 500 shares of the stock of Oracle and asks when
payment will be due. If today is Wednesday, September 15th, you inform the client that payment is due on
A. Thursday, September 16th.
B. Monday, September 20th.
C. Friday, September 17th.
D. Saturday, September 18th.
正解：B
解説: (Pass4Test メンバーにのみ表示されます)

質問 8：
Harry Lange manages the investment portfolio for the Fidelity Magellan Mutual Fund. Mr. Lange is a(n)
A. agent.
B. broker-dealer.
C. investment company.
D. investment adviser.
正解：D
解説: (Pass4Test メンバーにのみ表示されます)