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

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How long does a party have to submit requests to the arbitrators for an explained decision prior to a hearing?

  1. 15 days

  2. 20 days

  3. 30 days

  4. 45 days

The correct answer is: 20 days

A party must submit requests to the arbitrators for an explained decision 20 days prior to a hearing. This timeframe is established to ensure that all parties involved have adequate notice and can prepare for the hearing while understanding the basis for the arbitrators' decisions. It promotes transparency in the arbitration process and allows for any questions or additional clarifications to be addressed well in advance of the hearing. By adhering to this timeline, parties can better evaluate their positions and prepare their arguments or counterarguments effectively.