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Finra Series-63 Exam - Topic 3 Question 25 Discussion

Once a person has filed an application with the Administrator, and in doing so has truthfully disclosed every material fact, how long does the Administrator have after the effective date of the registration to commence a proceeding to deny, suspend, or revoke that person's license based on those facts?
C) 90 days.
A) 30 days.
B) 60 days.
D) one year.

Finra Series-63 Exam - Topic 3 Question 25 Discussion

Actual exam question for Finra's Series-63 exam
Question #: 25
Topic #: 3
[All Series-63 Questions]

Once a person has filed an application with the Administrator, and in doing so has truthfully disclosed every material fact, how long does the Administrator have after the effective date of the registration to commence a proceeding to deny, suspend, or revoke that person's license based on those facts?

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Suggested Answer: C

If a person has appropriately and truthfully disclosed every material fact on its application for registration, the Administrator has 90 days after the registration becomes effective to commence a proceeding to deny, suspend, or revoke the license. If the Administrator has known about the fact for longer than this, he may not begin a proceeding against that person according to the Uniform Securities Act.


by Fairy at Jun 22, 2026, 07:33 PM

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Caitlin
12 days ago
I agree with John, B) 60 days makes sense. Quick action is better!
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Pansy
17 days ago
I feel like it should be longer, maybe C) 90 days. More time for review.
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Marsha
23 days ago
I think it's B) 60 days. Seems reasonable.
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Elli
28 days ago
Are you sure about that? I feel like it could be longer.
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Junita
1 month ago
Totally agree, 60 days makes sense.
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Ashley
1 month ago
Wait, one year? That seems way too long!
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Madonna
1 month ago
I thought it was 90 days, but I guess not!
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Lavelle
2 months ago
It's 60 days after the effective date.
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Jessenia
2 months ago
I thought it was one year, but now I'm second-guessing myself. I need to remember the exact time limits!
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Shanda
2 months ago
I feel like it might be longer than 60 days, but I can't recall if it's a year or just 90 days.
upvoted 0 times
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Florinda
2 months ago
I practiced a similar question last week, and I believe the answer was 90 days. That seems to stick in my mind.
upvoted 0 times
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Nidia
2 months ago
I think I remember something about the Administrator having a specific time frame, but I'm not sure if it's 60 or 90 days.
upvoted 0 times
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