Practice Quiz

FINRA Series 63 (NASAA)

Category - Series 63

Start a Study Session Sign up for Question of the Day
Sam Shyster had his day in court-and lost. His license to do business as an investment adviser in the state has been revoked. What legitimate options does Sam have available to him now?
  1. Sam can move to another state and apply for registration as an investment adviser there.
  2. Sam has 45 days in which to file an appeal with the attorney general.
  3. Sam can register with the SEC as an investment adviser, which will exempt him from state registration requirements.
  4. Sam has 60 days to file an appeal of the decision in a court of law.
Explanation
Answer: D - Sam has the legitimate option of filing an appeal of the decision in a court of law within 60 days. He will not be able to register as an investment adviser with the SEC or with another state. His application will be denied when it is discovered that Sam has had his license revoked by one state.
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz