Series 63 practice questionmediumBroker-Dealer Registration — Effective Dates
A broker-dealer files its registration application on March 1. No proceedings are initiated by the Administrator. When does the registration become effective?
- AMarch 1 at midnight
- BMarch 15 at noon
- CMarch 31 at noon✓ Correct answer
- DApril 1 at noon
Explanation
Why C — March 31 at noon
Under USA Section 202(c), registration becomes effective at noon on the 30th day after filing unless the Administrator specifies otherwise. Counting 30 days from March 1 yields March 31 at noon. The Administrator may set an earlier or later effective date if needed.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 646+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Related Regulation of Broker-Dealers & Agents questions
- When a registered broker-dealer merges with another firm and creates a successor entity, the successor firm:
- A broker-dealer's registration application filed with the state Administrator becomes effective:
- A broker-dealer files a notice of withdrawal from registration with the state Administrator. When does the withdrawal…
- A broker-dealer that wishes to conduct business in a state must first: