Series 63 practice questioneasyGrounds for Denial
Under the Uniform Securities Act, which of the following is NOT a lawful basis for an Administrator to deny an individual's registration?
- AThe applicant has willfully violated securities laws within the past 10 years.
- BThe applicant was convicted of a felony within the past 10 years.
- CThe applicant failed to pay required registration fees.
- DThe applicant has limited sales experience.✓ Correct answer
Explanation
Why D — The applicant has limited sales experience.
Limited sales experience alone is not grounds for denial under the USA (Section 204). The other choices—violations of law, criminal convictions, and nonpayment of fees—are specifically listed as bases for denial.
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