Series 63 practice questioneasyAdministrator’s Powers—Records
Which of the following is TRUE regarding the Administrator's authority to require records from registrants?
- AThe Administrator may require that records be kept in any form that can be readily converted into written form✓ Correct answer
- BRecords must always be kept in paper format
- CThe Administrator can only request summaries, not actual records
- DRecords must be delivered to the Administrator in person
Explanation
Why A — The Administrator may require that records be kept in any form that can be readily converted into written form
USA Section 411 states records can be kept in any form (paper, microfilm, electronic) so long as they can be readily converted to written form; digital or other forms are acceptable. Delivery and format restrictions in B, C, D are incorrect.
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