Series 63 practice questionhardAdministrator’s hearing rights
A State Administrator issues a summary order suspending an agent’s registration. The agent requests a hearing. Under the USA, how soon must the hearing be provided?
- AWithin 15 days of the request.✓ Correct answer
- BImmediately upon request.
- CWithin one year of the request.
- DOnly if the Administrator decides to grant it.
Explanation
Why A — Within 15 days of the request.
The USA requires that a hearing be provided within 15 days of a written request after a summary order (USA Sec 402). The Administrator cannot delay or deny the hearing arbitrarily.
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