Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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The Uniform Securities Act (USA) is
  1. a body of laws governing the purchase and sale of securities within a single state.
  2. a set of guidelines for individual states to follow when formulating their own securities’ laws.
  3. a group of laws requiring state-issued securities, such as municipal bonds, to be registered with
  4. federal legislation that requires all states to adopt the same registration requirements for all
Explanation
Answer: B - The Uniform Securities Act (USA) provides a model for states to follow when formulating their own securities laws. It does not, itself, contain any laws.
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