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← Series 63: Remedies & Administrative Provisions
Series 63 practice questioneasyAdministrator Powers — Qualification

For a mock NASAA exam, assume the administrator is testing this exact point. Assume the administrator is testing the cleanest state-law answer. The Administrator may require which of the following as a condition of registration for agents?

  1. AA minimum net worth of $250,000
  2. BA four-year college degree in finance
  3. CAt least 5 years of prior experience in the industry
  4. DPassing a qualifying examination✓ Correct answer
Explanation

Why D — Passing a qualifying examination

Under USA Section 204(b)(3), the Administrator may require applicants to pass a qualifying examination as a condition of registration. The USA does not mandate specific degree requirements or minimum experience thresholds, though the Administrator may consider qualifications broadly. State-law analysis leads to the same conclusion despite the alternate scenario.

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