Firearm Licensing and Record of Sale Act of 2001

Firearm Licensing and Record of Sale Act of 2001 - Amends the Brady Handgun Violence Prevention Act to prohibit a person from possessing a firearm unless that person has been issued a firearm license under this Act or a State system certified under this Act and such license has not been invalidated or revoked. Prescribes license application, issuance, and renewal requirements.

Prohibits transferring or receiving a qualifying firearm unless the recipient presents a valid firearms license, the license is verified, and the dealer records a tracking authorization number. Prescribes firearms transfer reporting and record keeping requirements. Directs the Secretary to establish and maintain a Federal record of sale system.

Prohibits: (1) transferring a firearm to any person other than a licensee, unless the transfer is processed through a licensed dealer in accordance with national instant criminal background check system requirements, with exceptions; (2) a licensed manufacturer or dealer from failing to comply with reporting and record keeping requirements of this Act; (3) failing to report the loss or theft of the firearm to the Secretary within 72 hours; (4) failing to report to the Secretary an address change within 60 days; or (5) keeping a loaded firearm, or an unloaded firearm and ammunition for the firearm, knowing or recklessly disregarding the risk that a child is capable of gaining access, if a child uses the firearm and causes death or serious bodily injury.

Prescribes penalties for violations of firearms provisions covered by this Act.

Directs the Secretary to: (1) establish and maintain a firearm injury information clearinghouse; (2) conduct continuing studies and investigations of firearm-related deaths and injuries; and (3) collect and maintain current production and sales figures of each licensed manufacturer.

Authorizes the Secretary to certify State firearm licensing or record of sale systems.