October 2023 — Question 31
Choose the ONE answer that correctly fills in the blank. When a change of ownership results in the addition of a new principal to an organizational broker, CBP may conduct a background investigation of the new principal. A "principal" is defined as a person with at least a _____ capital, beneficiary or other direct or indirect interest in the business of a broker.
- AOne percent (1%)
- BFive percent (5%)✓ CBP's answer
- CFifty percent (50%)
- DFifty-one percent (51%)
CBP's cited authority
§ 19 CFR 111.28(d)
Answer and citations as published in CBP's official answer key for the October 2023 examination.
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