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Finra Series-63 Exam - Topic 2 Question 15 Discussion

Actual exam question for Finra's Series-63 exam
Question #: 15
Topic #: 2
[All Series-63 Questions]

Under the NASAA Model Rules, the statute of limitations for civil liabilities is

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Suggested Answer: D

Under the NASAA Model Rules, the statue of limitations for civil liabilities is the earlier of two years after the discovery of facts and three years after the sale. This follows the recommendations provided by the Uniform Securities Act of 1956.


by Gearldine at Nov 22, 2025, 08:56 AM

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Devora
1 day ago
I remember it being A. The earlier limit is crucial.
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Chantell
6 days ago
A makes sense, but I’m unsure about the four years part.
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Dick
11 days ago
I lean towards B. Three years seems more reasonable.
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Zena
17 days ago
Are you sure about that? Seems too short!
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Linette
22 days ago
Definitely A, I've checked the rules before.
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Daron
27 days ago
Wait, I thought it was B? This is confusing!
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Kristian
2 months ago
It's A) two years after discovery or four years after violation.
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Annice
2 months ago
Definitely not A. That's way too short of a timeline. I'm leaning towards B or D, but I'll have to double-check the NASAA guidelines.
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Adolph
2 months ago
Option A? Really? Who writes these questions, a bunch of lawyers? *chuckles*
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Lashaunda
2 months ago
I'm going to go with C. It's the most comprehensive option, covering both the discovery of facts and the violation timeline.
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Antione
2 months ago
Hmm, I'm torn between B and D. The NASAA rules can be tricky, but I think D might be the safest bet.
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Annamae
2 months ago
I remember discussing the NASAA rules, but I’m not confident about the exact timeframes. I might lean towards option A, but I’m not sure.
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Mike
3 months ago
I’m pretty sure it’s the earlier of two years after discovery and three years after the sale. That sounds familiar, but I could be mixing it up.
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Viva
3 months ago
I practiced a similar question, and I feel like the answer was about three years after discovery. Maybe it's option B?
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Jose
3 months ago
I think the statute of limitations is two years after discovery, but I can't remember if it's four years after the violation or something else.
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Ryan
3 months ago
I'm a little confused by the different time periods in the options. I'll need to re-read this a few times to make sure I understand the nuances.
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Merilyn
3 months ago
I've got a good feeling about this one. The wording in the answer choices seems pretty straightforward, so I think I can narrow it down.
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Margarita
3 months ago
Okay, let's see. The question is asking about the statute of limitations, so I'll need to focus on the time periods mentioned in the answer choices.
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Lemuel
4 months ago
I think it's A. Two years after discovery sounds right.
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Jesusita
4 months ago
Option B seems the most reasonable, as it provides a clear timeline for the statute of limitations.
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Cherilyn
4 months ago
Totally agree, A is the correct answer!
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Howard
4 months ago
I'm pretty sure the correct answer is D. The question specifically mentions the NASAA Model Rules, and that's the option that aligns with those rules.
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Beatriz
5 months ago
Hmm, this seems like a tricky one. I'm not too familiar with the NASAA Model Rules, so I'll need to think through the options closely.
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Elli
5 months ago
I think I'll start by reading through the question carefully to make sure I understand the key details about the NASAA Model Rules and the statute of limitations.
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Willow
4 months ago
I think it's A. Two years after discovery sounds right.
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