Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

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It has come to the attention of the Administrator of the state that Samuel Shyster provided false information on his application to become a registered investment adviser with the state. Prior to revoking Samuel’s license, the Administrator will provide Samuel with which of the following?
I. prior notice
II. an opportunity to fill out a new registration statement
III. an opportunity for a hearing
IV. a written statement regarding the facts and the legal consequences
  1. I, II, III, and IV
  2. I, II, and III
  3. I, III, and IV
  4. I, II, and IV
Explanation
Answer: C - Prior to revoking Samuel’s license, the Administrator will provide Samuel with prior notice (I), an opportunity for a hearing (III), and a written statement regarding the facts and the legal consequences (IV).
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