FFL Compliance Auditing & Self-Inspection 5

Question 1

A licensed collector (Type 03 C&R) is subject to which specific self-inspection recordkeeping requirement that differs from a Type 01 dealer?

Accepted Answer

C&R licensees must maintain a bound book of C&R firearm acquisitions and dispositions but are exempt from NICS for C&R-eligible firearms

Answer

Type 03 C&R licensees must maintain an A&D record for curio and relic firearms but are generally exempt from NICS checks when acquiring C&R-eligible firearms from dealers.

Question 2

During self-inspection, an FFL discovers that multiple sales reports (ATF Form 3310.4) for handgun sales to the same buyer were never submitted. What is the reporting threshold that triggers this requirement?

Accepted Answer

Three or more handguns purchased by the same person in any 5-business-day period

Answer

An FFL must file ATF Form 3310.4 when the same person purchases two or more handguns during any five consecutive business days.

Question 3

What is the purpose of reconciling the physical inventory count against the bound book during a self-inspection?

Accepted Answer

To identify unrecorded acquisitions, missing disposition entries, or actual theft/loss

Answer

Physical-to-book reconciliation identifies discrepancies that may indicate unrecorded transactions, missing firearms, or theft requiring ATF notification.

Question 4

An FFL operating a gun show booth discovers mid-show that its portable bound book was left at the licensed premises. Under ATF regulations, what must the FFL do?

Accepted Answer

Cease making transfers until the bound book or an authorized copy is available at the booth

Answer

An FFL must have its acquisition and disposition records available at the location where transfers are occurring; without them, transfers must cease.

Question 5

Which of the following correctly describes the 'open and voluntary' disclosure concept in ATF compliance inspections?

Accepted Answer

An FFL that discloses violations to ATF before an inspection begins may receive reduced penalties

Answer

FFLs that proactively disclose violations before or at the start of an ATF inspection may receive more favorable treatment, though willful violations are not mitigated.

(FFL) Certified Federal Firearms License Specialist Practice Test

(FFL) Certified Federal Firearms License Specialist Practice Test

FFL Compliance Auditing & Self-Inspection 5