Series 63 practice questioneasyConsent to Service of Process
A junior banker at William Blair registers as an agent in State Y. Which of the following statements regarding the consent to service of process is TRUE under the Uniform Securities Act (USA)?
- AThe consent must be filed once, and it remains in effect for all future actions under the act.✓ Correct answer
- BA new consent must be filed for each administrative action.
- CThe consent is required only if the agent is sued by a private party.
- DThe consent expires upon leaving the firm.
Explanation
Why A — The consent must be filed once, and it remains in effect for all future actions under the act.
Option A is correct: Under USA §414, the consent to service of process is a one-time filing required for registration and remains permanently on file. Options B, C, and D are incorrect; the consent is not action-specific, not limited to private suits, and does not expire just because the representative leaves the firm.
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