Series 63 practice questioneasyEffective Date Calculations
A broker-dealer files for registration in State A on June 1. If the Administrator takes no action, on which date will the registration typically become effective under the Uniform Securities Act (USA)?
- AJune 8
- BJune 16
- CJuly 1✓ Correct answer
- DAugust 1
Explanation
Why C — July 1
Under the Uniform Securities Act, registration becomes effective at noon on the 30th day after filing unless the Administrator accelerates or delays it. A June 1 filing therefore becomes effective on July 1.
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