Series 63 practice questionmediumDue Process
Which of the following best describes the due process rights an agent has if their registration is summarily suspended?
- AThe right to submit a written hearing request and have the matter set down for hearing within 15 days after the request is received✓ Correct answer
- BThe right to an immediate court hearing.
- CAutomatic reinstatement after 30 days.
- DNo rights since the suspension is summary.
Explanation
Why A — The right to submit a written hearing request and have the matter set down for hearing within 15 days after the request is received
Under USA Section 204(c), summary suspension does not eliminate due process. After the Administrator receives a written hearing request, the matter must be set down for hearing within 15 days. The model Act does not say the registrant must request the hearing within 15 days.
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