Final answer:
Registered individuals in the financial industry must complete the regulatory element of continuing education on the second anniversary of their registration and then every three years thereafter, not every year.
Step-by-step explanation:
The question pertains to the regulatory element of continuing education that registered persons in the financial industry must complete. Although the text provided speaks about the term lengths of certain classes of officials, it seems to be unrelated to the specific question about continuing education requirements. In the actual financial industry guidelines, registered individuals are generally required to complete the regulatory element of their continuing education on the second anniversary of their registration and then every three years thereafter. That would be the second, fifth, eleventh year, and so on in a three-year cycle, not every year.