Free Series 82 Practice Test

Heads up: these are full-difficulty, exam-level questions — harder than most free Series 82 questions online, on purpose. A low score before studying is normal. Answer all 8 to see your score and a full explanation for each.

Question 1 of 8 · Regulation D

An issuer conducts an offering under Rule 506(c) and advertises it publicly. To keep the exemption, the issuer must:

Question 2 of 8 · Accredited Investors

Which statement about the natural-person accredited investor standards is correct?

Question 3 of 8 · General Solicitation

A representative meets a prospective investor for the first time at a public seminar advertised to the general public, then offers them a 506(b) private placement. The problem is:

Question 4 of 8 · Resales & Liquidity

A client who bought restricted securities in a private placement wants to sell them. The most accurate statement is:

Question 5 of 8 · Suitability

Which factor matters MOST when assessing whether a private placement suits a particular client?

Question 6 of 8 · Disclosure Documents

What is the primary function of a private placement memorandum?

Question 7 of 8 · Issuer Obligations

Regulation D imposes a bad-actor disqualification. Its practical effect on an offering is:

Question 8 of 8 · Compensation

An unregistered person introduces investors to an issuer's private placement and is paid transaction-based compensation. This arrangement is: