Series 66: Exercise

Exercise

Please choose State A, State B, or both.

1. _____John works for a broker-dealer. He has an office in State A. He has no office in State B, and he has 5 institutional clients and 2 retail clients there. In which state or states should he be registered?

2. _____Steve, who has an office in State A, has a client named Brenda. He has worked with Brenda for five years, and she is currently on vacation in State B when Steve effects a transaction for her. In which state or states should Steve be registered?

3. _____Quinne is an agent with an office in State A, where she sells only exempt Treasury securities. She also has 10 institutional investors in State B.