Discuss Finra Series-63 Exam Topic 7 Question 14

Which of the following securities would not necessarily be exempt from state registration?

Aa stock listed on the Tokyo Stock Exchange

Ba bond guaranteed by the Canadian government

Ca bond issued by another state's employees' credit union

Da stock listed as a NASDAQ National Market Issue.

Suggested Answer: A

Stocks listed on the Tokyo Stock Exchange would not necessarily be exempt from state registration. Stocks that are registered with the SEC, such as NASDAQ National Market Issue stocks, securities issued or guaranteed by the Canadian government, and securities issued or guaranteed by banks or credit unions are all exempt.

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22 comments · newest first

Brice 10 months ago

Definitely, bonds from other states can be tricky.

Craig 11 months ago

I agree, state registration can still apply.

Elza 11 months ago

A stock listed on the Tokyo Stock Exchange isn't exempt.

Deonna 11 months ago

NASDAQ stocks are usually exempt, right?

Leatha 11 months ago

Wait, are we sure about that? Seems odd!

Noe 11 months ago

I'm a bit confused about the credit union bond. I thought it could be exempt, but now I'm questioning if it really depends on the state laws.

Audry 12 months ago

I practiced a question similar to this, and I think bonds from other states might not be exempt. Could it be option C?

Louvenia 12 months ago

I feel like the bond guaranteed by the Canadian government might be exempt, but I can't recall if that applies to state registration.

Lavera 1 year ago

I think I remember that securities listed on major exchanges like NASDAQ are usually exempt, but I'm not entirely sure about the Tokyo Stock Exchange.

Cordie 1 year ago

This seems like a good opportunity to apply the principles we've learned. I'll carefully consider each option and eliminate the ones that are clearly exempt.

Alesia 1 year ago

I'm a bit confused on this one. I'll need to review my notes on state securities registration requirements to figure out which of these would not be exempt.

Bok 1 year ago

I'm pretty confident I know the answer here. The key is to focus on the specific wording of the question and the exemptions that apply.

Salena 1 year ago

Okay, let's see. I know stocks listed on major exchanges like the NYSE are usually exempt, but what about other exchanges like Tokyo? And bonds can get tricky with the different government guarantees.

Odette 1 year ago

Hmm, this is a tricky one. I'll need to think carefully about the exemptions from state registration for different types of securities.

Nichelle 1 year ago

I believe A and D could be exempt too, but C is the most obvious choice.

Nobuko 1 year ago

But what about A and D? They seem like they could also be exempt.

Shalon 1 year ago

I agree with Lennie, because it's issued by another state's credit union.

Lennie 1 year ago

I think the answer is C.

Sabrina 1 year ago

Hmm, I'm not sure about this one. I'm leaning towards option B, since bonds guaranteed by the Canadian government might be exempt from state registration.

Vannessa 1 year ago

I think option C is the correct answer. Bonds issued by state-level credit unions are not necessarily exempt from state registration requirements.

Anjelica 1 year ago

↳ replying to Vannessa

I agree, bonds issued by state-level credit unions may not be exempt from state registration.

Gretchen 1 year ago

↳ replying to Vannessa

I think option C is the correct answer.

Finra Series-63 Exam - Topic 7 Question 14 Discussion