The study guide is designed to provide an overview of the exam's general content and format. Candidates should educate themselves about the Uniform Securities Act, as well as Statements of Policy and Model Rules adopted by NASAA, in preparation for the Series 63 exam. It may also be useful as a final review checklist prior to taking the examination.

I. Registration of Persons    18 questions (30%)

    A.    Broker-dealers
            1.    Definitions
            2.    Initial, renewal, update, termination when required

    B.    Agents
            1.    Definitions
            2.    Initial, renewal, update, termination when required

    C.    Other Persons
            1.    Definitions
            2.    Initial, renewal, update, termination when required

    D.    Ongoing requirements
            1.    Books and records
            2.    Financial reporting

II. Securities    15 questions (25%)

    A.    Definitions
            1.    Securities
            2.    Offer or sale
            3.    Other (e.g., non-issuer, guaranteed)

    B.    Registration

    C.     Exemptions
            1.    Securities
            2.    Transactions

    D.    Federal covered securities 

III.    Business Practices    21 questions (35%)
        (including fraudulent and dishonest business practices)

    A.    Communications with clients and prospects
            (e.g. disclosure, unlawful representations concerning registrations)

    B.    Trade practices
            (e.g. suitability, excessive trading, insider trading, selling away,
            discretion, conflict of interest)

    C.    Compensation (e.g. fees, commissions)

    D.      Other issues (e.g. compliance, handling of client funds or securities)  

IV.    Administrative provisions and other remedies    6 questions (10%)

    A.    Operating procedures for the administrator
            (e.g. investigation, issuing subpoenas and orders, jurisdiction)

    B.    Administrative actions (e.g. denial, revocation, suspension) and basis for
            disciplinary action (including false and misleading filings)

    C.    Other penalties and liabilities (e.g. civil, criminal)

    D.    Other provisions (e.g. filing of sales and advertising literature)

(5 additional pre-test questions do not count towards score)