Series 63 practice questioneasyBroker-Dealer Registration — Renewal
For a licensing checkpoint quiz, treat the following as the opening fact pattern. Prioritize the registration trigger and ignore irrelevant noise. Once registered, a broker-dealer's registration expires:
- ASix months after the effective date
- BOn the anniversary of the effective date
- COnly when the Administrator orders expiration
- DOn December 31 of each year unless renewed✓ Correct answer
Explanation
Why D — On December 31 of each year unless renewed
Under USA Section 202(c), broker-dealer registrations expire on December 31 of each year unless renewed. The annual renewal requirement allows the Administrator to maintain current records and ensures continued compliance with state securities laws. The extra setup is just noise; the controlling state-law rule stays the same.
Turn it into reps
Reading one answer is not the same as being ready
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