Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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Finn Nance has recently passed his CFP exam and is now a certified financial planner. He has new business cards printed that have the words “Certified Financial Planner” printed under his picture. In doing so,
  1. Finn has not violated any laws or engaged in any prohibited practices.
  2. Finn has violated a securities law. The Uniform Securities Act prohibits anyone from using the word “certified” on any advertisement for services.
  3. Finn has possibly violated a state securities regulation. The Administrator in many states prohibits the use of the word “certified” on any advertisement for services.
  4. Finn is not in violation of any laws as long as he has notified the state Administrator of his new designation and his new logo.
Explanation
Answer: A - Finn has not violated any laws or engaged in any prohibited practices in using the words “Certified Financial Planner” on his business cards. Had he indicated he had been certified or approved by the state, he would have been in violation, but he is allowed to indicate a certification with a professional organization in any advertising literature.
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