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← Series 63: Regulation of Broker-Dealers & Agents
Series 63 practice questionmediumBroker-Dealer Registration — Effective Dates

On a timed state-securities quiz, the scenario below appears. Prioritize the registration trigger and ignore irrelevant noise. A broker-dealer files its registration application on March 1. No proceedings are initiated by the Administrator. When does the registration become effective?

  1. AMarch 1 at midnight
  2. BMarch 15 at noon
  3. CMarch 31 at noon✓ Correct answer
  4. DApril 1 at noon
Explanation

Why C — March 31 at noon

Under USA Section 202(c), registration becomes effective at noon on the 30th day after filing unless the Administrator specifies otherwise. Counting 30 days from March 1 yields March 31 at noon. The Administrator may set an earlier or later effective date if needed. This version tests the same concept with a different fact pattern wrapper.

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