STC Series 66 Chapter 1 Test Exam
2025 With 100% Correct Answers
Which of the following choices would be considered a person under the USA?
A customer
A broker-dealer
An estate
An issuer - CORRECT ANSWER✔✔I, II, III, and IV
Under the USA, a person is defined as a legal entity, which would include individuals (natural
persons) and business entities such as corporations, broker-dealers, partnerships, and
investment advisers.
If a broker-dealer is publishing both bid and ask prices for securities in the secondary market,
it's acting as a: - CORRECT ANSWER✔✔Market maker
Market makers are firms that act as dealers in offering to buy and sell securities in the
secondary market at their own risk. (18679)
Under the Uniform Securities Act, which individual is considered to be an agent? - CORRECT
ANSWER✔✔A secretary who accepts customers' securities orders
An agent is defined as a person who represents either a broker-dealer or an issuer in effecting
securities transactions. The definition excludes principals of broker-dealers, clerical employees
who do not accept customer orders, and silent partners.
An individual represents an issuer in the sale of the issuer's securities to its employees, but does
not earn commissions on the transactions. The individual is: - CORRECT ANSWER✔✔Not
considered to be an agent of the issuer
An agent is an individual who represents a broker-dealer or an issuer in effecting securities
transactions. However, an individual who represents an issuer in a transaction with existing
2025 With 100% Correct Answers
Which of the following choices would be considered a person under the USA?
A customer
A broker-dealer
An estate
An issuer - CORRECT ANSWER✔✔I, II, III, and IV
Under the USA, a person is defined as a legal entity, which would include individuals (natural
persons) and business entities such as corporations, broker-dealers, partnerships, and
investment advisers.
If a broker-dealer is publishing both bid and ask prices for securities in the secondary market,
it's acting as a: - CORRECT ANSWER✔✔Market maker
Market makers are firms that act as dealers in offering to buy and sell securities in the
secondary market at their own risk. (18679)
Under the Uniform Securities Act, which individual is considered to be an agent? - CORRECT
ANSWER✔✔A secretary who accepts customers' securities orders
An agent is defined as a person who represents either a broker-dealer or an issuer in effecting
securities transactions. The definition excludes principals of broker-dealers, clerical employees
who do not accept customer orders, and silent partners.
An individual represents an issuer in the sale of the issuer's securities to its employees, but does
not earn commissions on the transactions. The individual is: - CORRECT ANSWER✔✔Not
considered to be an agent of the issuer
An agent is an individual who represents a broker-dealer or an issuer in effecting securities
transactions. However, an individual who represents an issuer in a transaction with existing
