FPGEE for National Association of Boards of Pharmacy (NABP) Practice Exam 2025 - Free NABP Practice Questions and Study Guide

The correct duration for retaining records in a Schedule V bound book is two years from the date of the last transaction. This guideline is based on regulations pertaining to controlled substances, which mandate specific retention periods for record-keeping to ensure compliance and facilitate inspections by regulatory bodies. Schedule V drugs are considered to have a lower potential for abuse compared to higher schedule drugs, but they still require careful documentation and tracking.

Maintaining these records for two years ensures that there is an adequate time frame for any necessary audits, investigations, or reviews, ensuring that pharmacies can demonstrate compliance with applicable laws. This retention policy reflects the balance between regulatory needs and the practicalities of pharmacy operations, allowing for sufficient time for oversight while not requiring indefinite storage of records, which could affect workspace efficiency.