Series 63 practice questionmediumTermination Notification Timeline
An IAR is terminated from a state-registered adviser. Under the USA, when must the Administrator be notified?
- AWithin 90 days of termination
- BPromptly✓ Correct answer
- CWithin 10 business days
- DAt year-end renewal
Explanation
Why B — Promptly
\"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)).
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