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

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What is the time limit for filing a draft version or storyboard of an advertisement before its first use?

7 business days
10 business days
15 business days
20 business days

The correct answer is: 10 business days

The time limit for filing a draft version or storyboard of an advertisement before its first use is indeed 10 business days. This requirement is rooted in regulations that mandate firms to submit any marketing materials to the appropriate regulatory body within the stipulated timeframe to ensure compliance with advertising standards and to allow for a review process. This 10-day window ensures that the regulators can assess the content of the advertisement for compliance with the relevant rules and guidelines, protecting consumers from misleading information and ensuring that all marketing practices uphold the ethical standards expected in the investment industry. Submitting materials within this timeframe is crucial for maintaining transparency and accountability in marketing practices. Other time limits such as 7, 15, or 20 business days are not aligned with the stipulated guideline, underscoring the importance of knowing the specific deadlines that apply in regulatory contexts. Understanding these time frames helps professionals stay compliant and avoid penalties associated with advertising violations.