Series 63 practice questioneasyStatute of Limitations—Civil vs. Criminal
Which of the following best describes the statute of limitations for a civil suit under the USA regarding securities registration violations?
- A3 years from the sale or 2 years from discovery, whichever is earlier✓ Correct answer
- B5 years from the date of the violation
- C2 years from the sale date, regardless of discovery
- D3 years from discovery only
Explanation
Why A — 3 years from the sale or 2 years from discovery, whichever is earlier
Correct answer is A: USA §410 states civil suits must be filed within 3 years of the sale or 2 years from discovery, whichever comes first. B and D reflect incorrect timeframes, and C ignores the discovery provision.
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