Series 63 practice questioneasySummary Suspension
If the Administrator summarily suspends an agent's registration, what must the Administrator provide to the agent?
- AA statement informing of the suspension and the reasons for it.✓ Correct answer
- BA court order from the state attorney general.
- CAn automatic right to reinstatement within 14 days.
- DA personal visit explaining the suspension.
Explanation
Why A — A statement informing of the suspension and the reasons for it.
Section 204 of the USA requires the Administrator to promptly notify the registrant of the suspension, its reasons, and their right to a hearing. No court order or personal visit is required, and there is no automatic reinstatement.
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