Series 63 practice questioneasyRecords Inspection
An Administrator requests to inspect the business records of a broker-dealer registered in the state. Under the USA, the Administrator may:
- AInspect records during regular business hours without prior notice✓ Correct answer
- BDemand inspection only with a court order
- COnly inspect records once a year
- DInspect records only if a complaint has been filed
Explanation
Why A — Inspect records during regular business hours without prior notice
Per Section 412 of the USA, Administrators may inspect records at reasonable times, usually during business hours and without prior notice. No court order or complaint is required, and there is no annual limitation.
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