STC SERIES 66 Exam (2026) UPDATE Verified
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Terms in this set (297)
Uniform Securities Act -model law governing state registration statutes
for securities and financial professionals
-gives guidance to individual states when they
draft their own securities statutes but it's not the
actual law of any one state
State administrator Uses rules, orders, and laws to enforce the USA
North American securities Responsible for updating the USA through
administrators associations various NASAA model rules and statements of
policy
National securities markets -eliminated the duplication of state and federal
improvement act regulation of securities and advisors.
-created specific category of securities that are
exempt from formal registration
Person An individual, corporation, partnership,
unincorporated organization, government or
political subdivision of a government, and certain
trusts (any legal entity)
Not a person minors, deceased, mentally incompetent
, State Any state, territory, or possession of the US,
including the District of Columbia and Puerto
Rico
Financial firms Broker dealers, agents / registered
representatives, investment advisors, investment
advisor representatives
Executed transactions for Broker dealers and agents / registered
commissions representatives
ABC test (advice business Investment advisors and investment advisor
compensation) representatives
Broker-Dealer (BD) A person or firm in the business of buying and
selling securities. A firm may act as both broker
(agent) and dealer (principal), but not in the same
transaction. Broker/dealers normally must
register with the SEC, the appropriate sros, and
any state in which they do business. Related
item(s): agent; broker; dealer; principal.
Broker dealers must register with The state administrator, FINRA, and the SEC
Agents/Registered Representatives work for broker-dealer firms, which buy and sell
securities for their customers. They act as
middlemen, helping clients make informed
investment decisions
Agents/Registered Representatives must register with state administrator and FINRA
must register with
Investment Advisor Is the firm (comparable to a broker dealer)
Investment advisors must register The state administrator OR the SEC
with
Questions And Answers | With 100% Correct
Answers graded A+ Guaranteed Success!!
Save
Terms in this set (297)
Uniform Securities Act -model law governing state registration statutes
for securities and financial professionals
-gives guidance to individual states when they
draft their own securities statutes but it's not the
actual law of any one state
State administrator Uses rules, orders, and laws to enforce the USA
North American securities Responsible for updating the USA through
administrators associations various NASAA model rules and statements of
policy
National securities markets -eliminated the duplication of state and federal
improvement act regulation of securities and advisors.
-created specific category of securities that are
exempt from formal registration
Person An individual, corporation, partnership,
unincorporated organization, government or
political subdivision of a government, and certain
trusts (any legal entity)
Not a person minors, deceased, mentally incompetent
, State Any state, territory, or possession of the US,
including the District of Columbia and Puerto
Rico
Financial firms Broker dealers, agents / registered
representatives, investment advisors, investment
advisor representatives
Executed transactions for Broker dealers and agents / registered
commissions representatives
ABC test (advice business Investment advisors and investment advisor
compensation) representatives
Broker-Dealer (BD) A person or firm in the business of buying and
selling securities. A firm may act as both broker
(agent) and dealer (principal), but not in the same
transaction. Broker/dealers normally must
register with the SEC, the appropriate sros, and
any state in which they do business. Related
item(s): agent; broker; dealer; principal.
Broker dealers must register with The state administrator, FINRA, and the SEC
Agents/Registered Representatives work for broker-dealer firms, which buy and sell
securities for their customers. They act as
middlemen, helping clients make informed
investment decisions
Agents/Registered Representatives must register with state administrator and FINRA
must register with
Investment Advisor Is the firm (comparable to a broker dealer)
Investment advisors must register The state administrator OR the SEC
with
