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Finra Series-63 Exam - Topic 1 Question 21 Discussion

No: 93The net worth of a broker-dealer has fallen below the minimum net capital requirement specified by the state in which the broker-dealer is registered. This broker-dealer must notify the Administrator of this fact
C) by the close of business on the next business day.
A) before the beginning of the next quarter.
B) before the end of the month.
D) within a week's time.

Finra Series-63 Exam - Topic 1 Question 21 Discussion

Actual exam question for Finra's Series-63 exam
Question #: 21
Topic #: 1
[All Series-63 Questions]

No: 93

The net worth of a broker-dealer has fallen below the minimum net capital requirement specified by the state in which the broker-dealer is registered. This broker-dealer must notify the Administrator of this fact

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Suggested Answer: C

When the net worth of a broker-dealer falls below the minimum net capital requirement specified by the state, the broker-dealer must notify the Administrator of this fact by the close of business on the next business day according to the Uniform Securities Act.


by Sue at Apr 06, 2026, 11:42 AM

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Arletta
2 hours ago
It's C, they have to notify by the close of business on the next business day.
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Alease
5 days ago
I thought it was A) before the next quarter. This is news to me!
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Mitsue
10 days ago
Seems strict, but I guess they need to keep things in check.
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Aliza
16 days ago
Wait, are you sure? I thought it was longer than that.
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Jess
2 months ago
Totally agree, that’s the standard procedure!
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Rosina
2 months ago
It's C) by the close of business on the next business day.
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Tora
3 months ago
I’m leaning towards A, but I’m not sure if they really give that much time. It seems like it should be more immediate.
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Laticia
3 months ago
I feel like it could be B, but I’m not confident. I just remember that quick notifications are usually required in these situations.
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Eleonore
3 months ago
I remember a similar question about notifying regulators, and I think it was always pretty urgent, like within a day or two.
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Halina
3 months ago
I think the answer might be C, but I’m not entirely sure if it’s the next business day or if it could be a little longer.
upvoted 0 times
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