series 66 c1 Word Scramble
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Question | Answer |
Any rule that includes a calender year(1933,1934,1940,etc.)is considered what type of law? | A Federal Law. |
Any rule that does not include a calender year(USA, NASAA, and Blue Sky)is considered what type of law? | A State Law. |
NSMIA(National Securities Markets Improvement)Act of 1996 states that if federal & state laws are the same; then who has primary jurisdiction? | Federal law would have primary jurisdiction. |
What does USA stand for? | Uniform Securities Act. |
What does Person mean? | An individual,group,or organization. |
What does NASAA stand for? | North America Securities Administrator Association. |
What is a State Administrator(Commissioner)? | An enforcer of rules and regulations of the securities industry within the state. |
What is the definition of Security? | An investment in an organization managed by a 3rd party(common enterprise)with an expectation of a profit. |
Exempt Security means? | A security that does not need to be registered on the state level to be issued publicly. |
Non-Exempt Security means? | A security that needs to be registered on the state level to be traded publicly. |
What is an Agent? | A salesperson representing a broker-dealer or issuer in selling securities. |
A Broker-Dealer is? | A person or firm trading for themselves & for the accounts of others. |
What does IA stand for? | Investment Adviser. |
Investment Adviser is? | A person who charges fees for offering investment advice about securities. |
Investment Adviser Representative is what? | Any employee of an investment adviser except for clerical employees. |
What is an Issuer? | A corporation or government who issues or plans to issue securities. |
According to state law, a partnership may not be an issuer. True or false? | True. |
Issuer Transaction[Primary Market Transaction]is what? | A trade where the issuer receives money from the sale of securities{a trade of new securities}. |
Non-Issuer Transaction{Secondary Market Transaction}is what? | A trade where the proceeds of the sale of the securities are received by an investor instead of an issuer. |
Guaranteed Security means? | A security where dividends,interest,and/or principal payments are guaranteed by an institution other than the issuer[Insurance company,U.S. government]. |
Since no one may guarantee that the price of a security will increase;what may not be guaranteed? | Capital Gains. |
The indication of a dealer,trader,or investor of a willingness to sell a security for value[Recommendation]; is called? what? | Offer[Offer to Sell]. |
Sale means? | The actual trade of a security for value[Transferring ownership with one person paying another] |
In-the-State means? | A person will be considered"In-the-State" if any offer or sale occurs in the state. |
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Doylestown
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