Series 63 practice questionhardAdministrator Powers — Cancellation vs. Revocation
On a final review set, the question is presented in this context. Prioritize the registration trigger and ignore irrelevant noise. An investment adviser registered in a state fails to respond to any communications and cannot be located at the address on file. The Administrator should:
- ACancel the registration due to the registrant's inability to be located✓ Correct answer
- BIssue a cease and desist order
- CRevoke the registration as punishment for noncompliance
- DSuspend the registration for 30 days pending investigation
Explanation
Why A — Cancel the registration due to the registrant's inability to be located
Under USA Section 204(b), the Administrator may cancel a registration if the registrant no longer exists, has ceased to do business, or cannot be located. Cancellation is non-punitive and differs from revocation, which is a disciplinary action taken as a penalty for wrongdoing. This variant keeps the same legal rule but shifts the setup so recall has to stay flexible.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 646+ Series 63 questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Related Remedies & Administrative Provisions questions
- During a registration workshop, the instructor adds this setup first. Prioritize the registration trigger and ignore…
- In a remedial practice session, the fact pattern is framed this way. Prioritize the registration trigger and ignore…
- For a licensing checkpoint quiz, treat the following as the opening fact pattern. Prioritize the registration trigger…
- A training manager asks you to analyze the following USA issue. Prioritize the registration trigger and ignore…