Administrative Law & Procedures Flashcards
7 cards from real Series 66 – Uniform Combined State Law Exam practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Administrative Law & Procedures flashcards as text
A nonresident broker-dealer registering in a state must file which of the following with the Administrator?
Answer: A consent to service of process
Nonresident registrants file an irrevocable consent appointing the Administrator as agent for service of process.
Under the Uniform Securities Act, a person aggrieved by a final order of the Administrator may seek:
Answer: Judicial review in a court of competent jurisdiction
Any person aggrieved by a final order may obtain review in court.
Does filing a petition for judicial review of an Administrator's order automatically stay the order?
Answer: No, unless the court specifically orders a stay
The filing of a petition does not stay the Administrator's order unless the court so orders.
An issuer claims an exemption from registration for its securities. Who bears the burden of proving the exemption applies?
Answer: The person claiming the exemption
The party relying on an exemption must prove it is available.
An Administrator who acts in good faith in issuing a rule or order and later learns it was invalid is generally:
Answer: Not liable for acts done in good faith
The Act provides no liability for good-faith acts or omissions under the Act's authority.
What is the maximum period after a violation within which a criminal proceeding may generally be brought under the Uniform Securities Act?
Answer: Five years
The Act bars criminal proceedings brought more than five years after the violation.
Which of the following can the Administrator do without first conducting a hearing?
Answer: Issue a temporary summary order pending a hearing
Only temporary summary orders may issue before a hearing; final actions require notice and an opportunity to be heard.
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