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Exam Series 63 All Questions

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Exam Series 63 topic 1 question 65 discussion

Actual exam question from FINRA's Series 63
Question #: 65
Topic #: 1
[All Series 63 Questions]

Which of the following would meet the requirements for an "exempt security?"

  • A. a $500,000 promissory note that matures in two years
  • B. commercial paper with a $100,000 face value and a maturity of five months that is rated AA by Standard and Poors
  • C. a $25,000 promissory note that matures in three months
  • D. commercial paper with a $200,000 face value and a maturity of three months that is rated BB by Standard and Poors
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Suggested Answer: B 🗳️
An issue of commercial paper with a $100,000 denomination and a maturity of five months with an AA rating from Standard and Poors meets the requirements for an "exempt security." A short-term security, with no more than 270 days to maturity, that has a denomination of at least $50,000, and has a rating of AAA, AA, or A from a recognized rating agency is exempt from registration with the state Administrator.
by lolojepu at April 6, 2025, 1:39 a.m.

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