Series 63 practice questionmediumAdministrator Actions—Consent & Effectiveness
An agent at William Blair is registered in States Q and R. The agent files a consent to service of process in State Q, but not in State R. What is the MOST LIKELY outcome if the Administrator in State R seeks to bring an administrative action?
- AThe action is invalidated until the consent is filed in State R.
- BThe Administrator in State R may proceed, as filing is a prerequisite of registration.✓ Correct answer
- CThe Administrator must file a separate lawsuit in State Q.
- DThe agent is subject only to civil liability, not administrative action, in State R.
Explanation
Why B — The Administrator in State R may proceed, as filing is a prerequisite of registration.
B is correct: The consent to service is required for registration in each state; if the agent is registered in R, consent must have been filed. The Administrator can proceed. A is incorrect because registration would not be effective without the consent. C and D misstate jurisdiction.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,051+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Spot an error in this question or explanation? Tell us — we fix these fast.
Related Remedies & Administrative Provisions questions
- A registered agent in State S leaves William Blair and is sued two years later for actions taken while registered.…
- All of the following statements about the statute of limitations for securities violations under the USA are true…
- In a criminal prosecution under the USA, the prosecution must prove the defendant's guilt by what standard?
- A William Blair banker receives an order of denial of registration in State Z on June 1. By which date must the banker…
- Which of the following is LEAST likely to constitute valid service of process by the Administrator under the USA?
- When service is made through a registrant's USA consent to service of process, what is required for effective service…
- All of the following are true regarding judicial review of an Administrator’s order EXCEPT:
- Which of the following best describes the statute of limitations for a civil suit under the USA regarding securities…
