ORION SERIES 65 SECTION QUICK
QUIZ 2 EXAM QUESTIONS AND
ANSWERS (VERIFIED AND UPDATED)
Civil liability may arise under the Uniform Securities Act if an agent: - ANS Uses an artifice or
scheme that could reasonably be considered misleading in connection with a securities offering.
Effects a sale of a nonexempt new issue of securities before filing a registration statement in
that state.
While a student at college 9 years ago, Joe was convicted of possession of marijuana (a
misdemeanor in that state) and received a suspended sentence. Joe now resides in a different
state where the same offense is a felony. If Joe disclosed the matter on his application to ABC
Securities, Joe's registration may:
A) be denied based on this conviction because the crime is a felony in the state where he seeks
registration.
B) be denied based on this conviction because it was less than 10 years ago.
C) not be denied based on this conviction because it was a misdemeanor in the state where he
went to college.
D) not be denied based on this conviction because it was 9 years ago. - ANS Not be denied
based on this conviction because it was a misdemeanor in the state where he went to college.
@2026/2027 ALLRIGHTS RESERVED.
, If an investor bought stock on one exchange and sold it at a higher price on another exchange,
this practice constitutes a(n):
A) offense punishable by three years in the county jail.
B) violation under both the Uniform Securities Act and federal law.
C) violation of the Uniform Securities Act.
D) perfectly acceptable market arbitrage. - ANS D) perfectly acceptable market arbitrage.
Which of the following statements regarding civil liabilities under the Uniform Securities Act are
TRUE?
I. In a fraudulent securities transaction, the customer is entitled to recover the amount of the
transaction with interest at a rate set by the Administrator, less any income earned on the
security plus attorney's
fees.
II. Causes of action under the USA survive the death of either plaintiff or defendant.
III. No suit may be initiated more than three years after the transaction or two years after the
discovery of the violation, whichever occurs first.
IV. Rights and remedies in this act are in lieu of any others that exist under
other laws. - ANS D) I, II and III
@2026/2027 ALLRIGHTS RESERVED.
QUIZ 2 EXAM QUESTIONS AND
ANSWERS (VERIFIED AND UPDATED)
Civil liability may arise under the Uniform Securities Act if an agent: - ANS Uses an artifice or
scheme that could reasonably be considered misleading in connection with a securities offering.
Effects a sale of a nonexempt new issue of securities before filing a registration statement in
that state.
While a student at college 9 years ago, Joe was convicted of possession of marijuana (a
misdemeanor in that state) and received a suspended sentence. Joe now resides in a different
state where the same offense is a felony. If Joe disclosed the matter on his application to ABC
Securities, Joe's registration may:
A) be denied based on this conviction because the crime is a felony in the state where he seeks
registration.
B) be denied based on this conviction because it was less than 10 years ago.
C) not be denied based on this conviction because it was a misdemeanor in the state where he
went to college.
D) not be denied based on this conviction because it was 9 years ago. - ANS Not be denied
based on this conviction because it was a misdemeanor in the state where he went to college.
@2026/2027 ALLRIGHTS RESERVED.
, If an investor bought stock on one exchange and sold it at a higher price on another exchange,
this practice constitutes a(n):
A) offense punishable by three years in the county jail.
B) violation under both the Uniform Securities Act and federal law.
C) violation of the Uniform Securities Act.
D) perfectly acceptable market arbitrage. - ANS D) perfectly acceptable market arbitrage.
Which of the following statements regarding civil liabilities under the Uniform Securities Act are
TRUE?
I. In a fraudulent securities transaction, the customer is entitled to recover the amount of the
transaction with interest at a rate set by the Administrator, less any income earned on the
security plus attorney's
fees.
II. Causes of action under the USA survive the death of either plaintiff or defendant.
III. No suit may be initiated more than three years after the transaction or two years after the
discovery of the violation, whichever occurs first.
IV. Rights and remedies in this act are in lieu of any others that exist under
other laws. - ANS D) I, II and III
@2026/2027 ALLRIGHTS RESERVED.
