Uniform Securities Agent State Law (Series 63) Practice Exam

When does the registration for agents and investment adviser representatives expire?

1. Every January 1st

2. Upon termination of employment

3. December 31st, annually

4. At the end of every fiscal year

The correct answer is: December 31st, annually

The registration for agents and investment adviser representatives typically expires on December 31st of each year. This is a standardized practice in securities regulation to ensure that all individuals registered are current and that their licenses are reviewed and renewed annually. As a result, industry participants must prepare for annual renewal processes, which may include fulfilling continuing education requirements and ensuring compliance with any changes in applicable laws or regulations. The option stating that registration expires upon termination of employment refers to situations where an agent leaves their firm; however, this does not affect the universal expiration date of December 31st for the registration itself. While agent registrations are indeed impacted by employment status, the overarching annual expiration date remains a key requirement in the regulatory framework. Therefore, aligning with broader compliance standards, the annual January 1st reset plays a significant role in maintaining an up-to-date registry of active agents and advisers.