Lucky the Banker mascotLTB
Series 63: Regulation of Investment Advisers
Series 63 practice questionmediumTermination Notification Timeline

An IAR is terminated from a state-registered adviser. Under the USA, when must the Administrator be notified?

  1. AWithin 90 days of termination
  2. BPromptly✓ Correct answer
  3. CWithin 10 business days
  4. DAt year-end renewal
Explanation

Why BPromptly

\"Promptly\" is the standard under the USA for notification of the Administrator regarding IAR termination. Delaying or waiting until year-end is impermissible (USA Section 404(b)).

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 Regulation of Investment Advisers questions