Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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If a person has had its license revoked by the Administrator of the state and has appealed the decision to a court of law, that person
  1. can continue business as usual pending the resolution of the appeal.
  2. must notify the Administrator of the state that it has appealed the decision.
  3. is considered to have a revoked license until the courts rule otherwise.
  4. Both B and C are true statements.
Explanation
Answer: D - If a person has had its license revoked by the Administrator of the state and has appealed the decision to a court of law, that person must notify the Administrator of the state that it has appealed the decision, but that person is considered to have a revoked license until the courts rule otherwise and may not continue “business as usual.”
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