Series 65 STC Exam 2025 With 100%
Correct Answers
Broker (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔A firm is acting in capacity of a broker when it effects securities transactions on
behalf of its clients .In other works, a broker will locate the other side of the trade
Dealer (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔A dealer stands ready to take the other side of any transaction - buying for its own
inventory with a markdown or selling from its own inventory charging a markup
Brokerdealer (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔Sales person of broker dealers must be registered agents
Investment Advisor (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) -
CORRECT ANSWER✔✔1. Providing Advice about securities
2. Providing these services as a business
3.Receiving Compensation for these services
Investment advisor representative (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES
OVERVIEW) - CORRECT ANSWER✔✔Makes recommendations or gives advice regarding
securities
Manages accounts or portfolios of clients
Determines which recommendations or what advice should be given
Solicits, offers, or negotiates the sale of investment advisory services
Supervises employees who perform any of these functions
, Uniform Securities Act (USA) (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) -
CORRECT ANSWER✔✔Model legislation for securities industry regulation at the state level. Each
state may adopt the legislation in its entirety or it may adapt it (within limits) to suit its needs.
Administrator (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔The fundamental mission of a state securities regulator is to protect the consumers
who purchase securities or pay for investment advice within the state
North American Securities Administrators Association (NASAA) (CHAPTER 1 - LAWS,
REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT ANSWER✔✔s responsible for updating
the Uniform Securities Act as well as maintaining the content of the Series 65 Examination.
-1919
Securities Act of 1933 ('33 Act) (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES
OVERVIEW) - CORRECT ANSWER✔✔This federal law requires that certain securities be
registered with the SEC in order to be offered or sold to the public. When issuers sell securities,
these offerings are often referred to as primary distributions
Securities Exchange Act of 1934 ('34 Act) (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES
OVERVIEW) - CORRECT ANSWER✔✔the Securities and Exchange Commission was established
and appointed as the federal regulatory agency with the duty to enforce federal rules and
regulations, including the registration of certain financial professionals.
-Additionally, the '34 Act governs the trading (secondary) markets.
The Investment Advisers Act of 1940 (IA '40 Act) (CHAPTER 1 - LAWS, REGULATIONS, AND
GUIDELINES OVERVIEW) - CORRECT ANSWER✔✔Many of its concepts have been incorporated
in the USA and in the model rules that NASAA has adopted regarding investment advisers.
The National Securities Markets Improvement Act of 1996 (NSMIA) (CHAPTER 1 - LAWS,
REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT ANSWER✔✔Eventually, in 1996,
Correct Answers
Broker (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔A firm is acting in capacity of a broker when it effects securities transactions on
behalf of its clients .In other works, a broker will locate the other side of the trade
Dealer (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔A dealer stands ready to take the other side of any transaction - buying for its own
inventory with a markdown or selling from its own inventory charging a markup
Brokerdealer (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔Sales person of broker dealers must be registered agents
Investment Advisor (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) -
CORRECT ANSWER✔✔1. Providing Advice about securities
2. Providing these services as a business
3.Receiving Compensation for these services
Investment advisor representative (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES
OVERVIEW) - CORRECT ANSWER✔✔Makes recommendations or gives advice regarding
securities
Manages accounts or portfolios of clients
Determines which recommendations or what advice should be given
Solicits, offers, or negotiates the sale of investment advisory services
Supervises employees who perform any of these functions
, Uniform Securities Act (USA) (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) -
CORRECT ANSWER✔✔Model legislation for securities industry regulation at the state level. Each
state may adopt the legislation in its entirety or it may adapt it (within limits) to suit its needs.
Administrator (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT
ANSWER✔✔The fundamental mission of a state securities regulator is to protect the consumers
who purchase securities or pay for investment advice within the state
North American Securities Administrators Association (NASAA) (CHAPTER 1 - LAWS,
REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT ANSWER✔✔s responsible for updating
the Uniform Securities Act as well as maintaining the content of the Series 65 Examination.
-1919
Securities Act of 1933 ('33 Act) (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES
OVERVIEW) - CORRECT ANSWER✔✔This federal law requires that certain securities be
registered with the SEC in order to be offered or sold to the public. When issuers sell securities,
these offerings are often referred to as primary distributions
Securities Exchange Act of 1934 ('34 Act) (CHAPTER 1 - LAWS, REGULATIONS, AND GUIDELINES
OVERVIEW) - CORRECT ANSWER✔✔the Securities and Exchange Commission was established
and appointed as the federal regulatory agency with the duty to enforce federal rules and
regulations, including the registration of certain financial professionals.
-Additionally, the '34 Act governs the trading (secondary) markets.
The Investment Advisers Act of 1940 (IA '40 Act) (CHAPTER 1 - LAWS, REGULATIONS, AND
GUIDELINES OVERVIEW) - CORRECT ANSWER✔✔Many of its concepts have been incorporated
in the USA and in the model rules that NASAA has adopted regarding investment advisers.
The National Securities Markets Improvement Act of 1996 (NSMIA) (CHAPTER 1 - LAWS,
REGULATIONS, AND GUIDELINES OVERVIEW) - CORRECT ANSWER✔✔Eventually, in 1996,
