Definitions

Code:
The Wisconsin Administrative Code which comprises the rules of the Division of Securities

CRD:
Central Registration Depository; the NASD-operated clearinghouse for broker-dealer and securities agent applications and source of information on qualification examinations.

Division:
Wisconsin Department of Financial Institutions Division of Securities.

DFI-Sec:
Section of the Wisconsin Administrative Code which comprises the rules of the Division of Securities; followed by the number of the section, sub-section and paragraph. In this case, sections 1 on definitions, 4 governing broker-dealer issues and 7 establishing fees.

FA: Federal Advisor, this abbreviation is used in Wisconsin to designate a federal registered investment advisor. A federal investment advisor manages money for a fee and manages total assets exceeding $25 million.

IA: Investment Advisor, this abbreviation is used in Wisconsin to designate state-licensed investment advisors. An investment advisor is any person or firm who for compensation is in the business of advising others as to the value, advisability of investing in, and purchasing or selling securities or produces reports or analysis of specific securities.

IA Representative:
Licensure required of persons representing either state-licensed investment advisers or federally registered investment advisers in this state, certain minimum qualifications are required.

Issuer:
Any person or firm who issues or proposes to issue any security.

NASD/NASDR:
National Association of Securities Dealers, the self-regulatory agency of broker-dealers and agents; also administers all qualification exams

SEC:
The U.S. Securities & Exchange Commission, the federal regulator of the securities industry.

Series 6:
Investment company product/variable contracts product exam used for securities agent qualification in conjunction with the Series 63 exam.

Series 63:
Exam used mainly for securities agent state licensing qualification. In conjunction with a product exam.

Series 65:
Exam used for qualification of investment advisers and investment adviser representatives.

Series 66:
Combines testing and qualification of both securities agents and investment advisers. Used for securities agent and investment adviser representative qualification in conjunction only with the Series 7 exam.

Series 7:
General securities product exam used for securities agent qualification in conjunction with the Series 63 or 66 exams.

UCSLE:
Uniform Combined State Law Examination; Series 66 combines testing and qualification of both securities agents and investment advisers. In conjunction with the Series 7 exam.

UIALE:
Uniform Investment Adviser Law Examination; Series 65 exam used for qualification of investment advisers and investment adviser representatives.

USASLE:
Uniform Securities Agent State Law Examination; Series 63 exam used mainly for securities agent state licensing qualification. In conjunction with a product exam.

Wis. Adm. Code:
Wisconsin Administrative Code; comprises the rules of the Division of Securities.

Wis. Stats.
Wisconsin Statutes; in this case, the Wisconsin Uniform Securities Law, Chapter
551.