Series 63 practice questionmediumFinancial Reporting Frequency
The Administrator in State X requires semiannual financial filings. Which of the following must the broker-dealer do?
- ASubmit financial reports every six months.✓ Correct answer
- BSubmit monthly reports.
- CSubmit only annual reports.
- DRefuse, since only annual reports are required by law.
Explanation
Why A — Submit financial reports every six months.
The Administrator may set the frequency of required financial filings (USA Section 202(d)). Broker-dealers must comply with this schedule.
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