{
  "question_text": "A change in controlling person requires 30-day OFR notification. What percentage of voting authority defines a controlling person under this requirement?",
  "options": [
    "25% or more of a class of voting securities",
    "10% or more of a class of voting securities",
    "50% or more of a class of voting securities",
    "51% or more of a class of voting securities"
  ],
  "correct_answer": "25% or more of a class of voting securities",
  "correct_response": "A controlling person is any person with authority to vote or direct the sale of 25% or more of a class of voting securities. A change in that person triggers the 30-day notification requirement as a material change to the original license application.",
  "incorrect_response": "The threshold is 25% — not 10%, 50%, or 51%. Any person with authority over 25% or more of a class of voting securities qualifies as a controlling person, and a change in that person must be reported to the OFR within 30 calendar days.",
  "unsure_response": null,
  "question_bank": [
    {
      "question_text": "What is the required method of transmittal for all OFR notifications, and why?",
      "options": [
        "Registered mail — it creates a delivery record proving timely dispatch",
        "Certified mail — it provides a signature confirmation of receipt",
        "Electronic submission via the OFR online portal — it generates a timestamp",
        "Fax with a confirmation receipt — it establishes the exact time of filing"
      ],
      "correct_answer": "Registered mail — it creates a delivery record proving timely dispatch",
      "correct_response": "All OFR notifications must be transmitted by registered mail. Registered mail creates the delivery record that proves Advanced Compliance Technology, Inc. dispatched the notification within the required deadline.",
      "incorrect_response": "OFR notifications must be sent by registered mail — not certified mail, electronic submission, or fax. Registered mail provides the specific delivery record needed to demonstrate timely dispatch if the OFR later questions compliance.",
      "unsure_response": null
    },
    {
      "question_text": "When a notification event also triggers a federal SAR, CTR, or other filing requirement, what is the correct approach to managing both obligations?",
      "options": [
        "Track each deadline independently — each obligation has its own due date that does not extend the other",
        "Prioritize the OFR notification deadline because state obligations are controlling",
        "File only the federal report and place a copy in the OFR notification file",
        "Contact the OFR to request an extension that aligns with the federal filing deadline"
      ],
      "correct_answer": "Track each deadline independently — each obligation has its own due date that does not extend the other",
      "correct_response": "Concurrent filing obligations must each be tracked and met independently. The OFR notification deadline and any federal filing deadline run in parallel — neither extends nor satisfies the other.",
      "incorrect_response": "Both obligations must be met on their own timelines. Filing only the federal report does not satisfy the OFR notification requirement, and the OFR does not grant extensions to align with federal deadlines.",
      "unsure_response": null
    }
  ],
  "enrichment_content": "<p><strong>Key point:</strong> Material changes to the original license application — including a change in controlling person (25% or more voting authority) — require 30-day OFR notification by registered mail. All notifications must be retained along with the registered mail receipt for no fewer than 5 years. When a notification event also triggers a federal filing, both deadlines run independently.</p>"
}