Series 63 practice questionmediumDenial—Lack of Qualification
An applicant for registration fails the Series 63 exam three times. The Administrator:
- AMay deny registration for lack of qualification.✓ Correct answer
- BMust approve registration if fees are paid.
- CMust allow unlimited exam attempts.
- DMay only deny if the applicant has a criminal record.
Explanation
Why A — May deny registration for lack of qualification.
The Administrator can deny registration if the applicant is unqualified (Section 204), as demonstrated by repeatedly failing the required exam. Payment of fees or lack of a criminal record does not guarantee approval.
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