Practice Quiz

FINRA Series 6

Category - Series 6

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After three warnings, Honest Broker-Dealer was forced to terminate Sly Conman, one of its representatives, for making inaccurate statements when offering its mutual fund products to customers. After his registration is terminated:
  1. Mr. Conman can apply for reinstatement of his license after 12 months.
  2. Mr. Conman remains under the jurisdiction of FINRA for a period of 1 year.
  3. Mr. Conman remains under the jurisdiction of FINRA for a period of 2 years.
  4. Mr. Conman can apply for reinstatement of his license after 6 months, but will have to pay any applicable fees and retake a test.
Explanation
Answer: C - After his registration is terminated, Mr. Conman remains under the jurisdiction of FINRA for a period of 2 years. During this time, FINRA is able to file complaints against Mr. Conman for actions he made prior to his termination.
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