Investment Company and. Variable Contracts Products Principals (Series 26) Practice Exam

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What is required for an applicant if they receive a request for additional information?

Submit the information within 15 days
Respond within 30 days
Send a confirmation letter
Meet with a FINRA examiner in person

The correct answer is: Respond within 30 days

When an applicant receives a request for additional information, the appropriate action is to respond within 30 days. This time frame is established to ensure a prompt and efficient review process by regulatory authorities. Adhering to this timeline is crucial, as it helps maintain compliance and allows the application process to move forward without unnecessary delays. Responding in a timely manner demonstrates the applicant’s commitment to transparency and cooperation with regulatory requirements, which is essential in the financial industry. While other options may seem relevant in certain contexts, they do not align with the established regulations regarding the response time for such requests. Overall, understanding this requirement helps applicants remain compliant with industry standards and improves their communication with regulatory bodies.