Series 63 practice questionmediumDenial — Felony Convictions
An applicant for registration as an agent in State F discloses a non-securities-related felony conviction from 11 years ago. What is the Administrator's MOST LIKELY action?
- ADeny the registration due to any felony conviction.
- BApprove the registration, as the felony was over 10 years ago and not securities-related.✓ Correct answer
- CDeny the registration only if the conviction was securities-related.
- DDeny the registration unless the applicant can prove rehabilitation.
Explanation
Why B — Approve the registration, as the felony was over 10 years ago and not securities-related.
A felony conviction is an express registration-denial ground under the Uniform Securities Act when it occurred within the preceding ten years. On the limited facts given, this non-securities felony from eleven years ago is not that statutory ground, making B the best answer. Approval is not guaranteed if other denial grounds or the public-interest requirement are present.
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