The Securities Institute of America - Series 63 Exam Study Guide 2022 + Test Bank

SECURITIES INSTITUTE SERIES

The Securities Institute of America proudly publishes world class textbooks, test banks and video training classes for the following Financial Services exams:

Securities Industry Essentials exam / SIE exam

Series 3 exam

Series 4 exam

Series 6 exam

Series 7 exam

Series 9 exam

Series 10 exam

Series 22 exam

Series 24 exam

Series 26 exam

Series 39 exam

Series 57 exam

Series 63 exam

Series 65 exam

Series 66 exam

Series 79 exam

Series 99 exam

For more information, visit us at www.securitiesCE.com .

Copyright by The Securities Institute of America, Inc. All rights reserved.

Published by The Securities Institute of America, Inc.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of The Securities Institute of America, Inc.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

Contents

About The Greenlight
Guarantee

Registration of Broker
Dealers, Investment Advisers, and Agents

Professional Conduct
and Prohibited and Fraudulent Actions

The State Securities
Administrator and the Uniform Securities Act

About the Series 63 Exam

Congratulations! You are on your way to becoming a registered representative licensed to conduct securities business in all states that require the Series 63. The Series 63 exam will be presented in a 60-question multiple-choice format. Each candidate will have one hour and 15 minutes to complete the exam. A score of 72% or higher is required to pass.

The Series 63 is as much a knowledge test as it is a reading test. The writers and instructors at The Securities Institute have developed the Series 63 textbook, exam prep software, and videos to ensure that you have the knowledge required to pass the test and to make sure that you are confident in the application of the knowledge during the exam.

Taking the Series 63 Exam

The Series 63 exam is presented in multiple-choice format on a touch-screen computer known as the PROCTOR system. No computer skills are required, and candidates will find that the test screen works in the same way as an ordinary ATM. Each test is made up of 60 questions that are randomly chosen from a test bank containing several thousand questions. The test has a time limit of one hour and 15 minutes and is designed to provide enough time for all candidates to complete the exam. Each Series 63 exam will have five additional questions that do not count towards the final score. The Series 63 comprises questions that focus on the following areas:

How to Prepare for the Series 63 Exam

For most candidates, the combination of reading the textbook, watching the videos, and using the exam prep software is enough to successfully complete the exam. It is recommended that the candidate spend at least 30 hours preparing for the exam by reading the textbook, underlining key points, watching the video class, and completing as many practice questions as possible. We recommend that candidates schedule their exam no more than one week after completing their Series 63 exam prep.

Test-Taking Tips

• Read the full question before answering.
  • Identify what the question is asking.
  • Identify key words and phrases.
  • Watch out for hedge clauses, for example, except and not .
  • Eliminate wrong answers.
  • Identify synonymous terms.
  • Be wary of changing answers.

Why Do I Need to Take the Series 63 Exam?

In order to conduct securities business, most states require that an agent successfully complete the Series 63, in addition to obtaining a Series 6, 7, or 62 registration.

What Score Is Needed to Pass the Exam?

A score of 72% or higher is needed to pass the Series 63 exam.

Are There Any Prerequisites for the Series 63?

A candidate is not required to have any other professional qualifications prior to taking the Series 63 exam.

How Do I Schedule an Exam?

Ask your firms principal to schedule the exam for you or to supply you with a list of test centers in your area. If you are not with a member firm, you may obtain a Form U10 from the North American Securities Administrators Association (NASAA) to make an appointment. The Series 63 exam may be taken any day that the exam center is open.

What Must I Take to the Exam Center?

A picture ID is required. All other materials will be provided, including a calculator and scratch paper.

How Soon Will I Receive the Results of the Exam?

The exam will be graded as soon as you answer your final question and hit the Submit for Grading button. It will take only a few minutes to get your results. Your grade will appear on the computer screen, and you will be given a paper copy from the exam center.

If you do not pass the test, you will need to wait 30 days before taking it again. If you do not pass on the second try, you will need to wait another 30 days. If you fail a third time, you are required to wait six months to take the test again.

About This Book

The writers and instructors at The Securities Institute have developed the Series 63 textbook, exam prep software, and videos to ensure that you have the knowledge required to pass the test, and to make sure that you are confident in the application of the knowledge during the exam. The writers and instructors at The Securities Institute are subject-matter experts as well as Series 63 test experts. We understand how the test is written, and our proven test-taking techniques can dramatically improve your results.

Each chapter includes notes, tips, examples, and case studies with key information, hints for taking the exam, and additional insight into the topics. Each chapter ends with a practice test, to ensure that you have mastered the concepts before moving on to the next topic.

About the Test Bank

This book is accompanied by a test bank of hundreds of questions to further reinforce the concepts and information presented here. The test bank is provided to help students who have purchased our book from a traditional bookstore or from an online retailer such as Amazon. If you have purchased this textbook as part of a package from our website containing the full version of the software, you are all set and simply need to use the login instructions that were emailed to you at the time of purchase. Otherwise to access the test bank please email your purchase receipt to sales@securitiesce.com and we will activate your account. This test bank provides a small sample of the questions and features that are contained in the full version of the exam prep software.