Question

A sales associate license on a three year term, issued on May 15 is valid until:

a) April 30, thirty-six months later.
b) December 31 of the current year.
c) May 15, three years later.
d) May 31, three years later.

Answer 1

A sales associate license issued on May 15 for a three-year term is valid until May 15, three years later, which is the correct answer from the given options.

Step-by-step explanation:

A sales associate license issued for a three-year term on May 15 would be valid until May 15 of the third year following its issuance. Therefore, the correct answer is c) May 15, three years later. It is not based on a specific calendar year end or the end of the month, unless otherwise specified by the relevant licensing authority which in this context is not indicated.

When calculating the expiration date of a license or certificate, one typically adds the exact number of years to the issuance date unless specific rules dictate an end-of-month or end-of-year expiration. In this instance, without any additional information provided to suggest an alternative calculation method, a straight three-year addition to the issue date is the most accurate and logical method.