Final answer:
When a registered person moves from one broker-dealer to another, the current firm files Form U5 to separate the individual from the firm, and the new firm must file Form U4 to register the individual with FINRA. There are no exemptions based on passing the Series 24 exam, years of registration, or any grandfathering provisions; registrations can be transferred between firms following proper procedures.
Step-by-step explanation:
Regarding the question of which of the following is true regarding a registered person who wishes to move her registration from one broker-dealer to another, the most accurate answer is that specific procedures must be followed to effectively transfer a registration. When an individual wishes to change firms, the current firm usually files a Form U5 (Uniform Termination Notice for Securities Industry Registration) within 30 days of the termination of the individual's employment. This form effectively terminates the person's registration with that firm.
Afterward, the new employing broker-dealer must file a Form U4 (Uniform Application for Securities Industry Registration or Transfer) with the Financial Industry Regulatory Authority (FINRA) to apply for the individual's registration with the new firm. This requirement applies regardless of whether the individual has passed the Series 24 exam or has been registered for any length of time; there is no 'grandfathering' provision that exempts a registered representative from filing the appropriate forms. Additionally, registrations can indeed be transferred from one firm to another; it is not true that in no circumstances can a registration be transferred.