Series 63 practice questionmediumAdministrator Powers — Felony Convictions
Under the USA, a conviction for which of the following would be grounds for denying an agent's registration?
- AA traffic violation resulting in a misdemeanor conviction 3 years ago
- BA felony conviction for embezzlement 7 years ago✓ Correct answer
- CA civil judgment for breach of a real estate contract
- DA regulatory fine paid to the IRS for a late tax filing
Explanation
Why B — A felony conviction for embezzlement 7 years ago
Under USA Section 204(a)(2), any felony conviction within the past 10 years is a ground for denial. Embezzlement is a felony, and 7 years falls within the 10-year lookback window. A non-securities misdemeanor, a civil judgment, or a tax penalty would not qualify as grounds for denial.
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