Should a business rule violation throw an exception?
Do you mean, for example, that a value is supposed to be in the range 0-99 but somehow ended up being 105?
If it's coming from the user it's a matter of validation. Whether it is handled using exceptions or not depends on the idioms of your language.
If it's coming from your data store then yes, it seems reasonable to throw an exception. It means you have bad data and you need to figure out how it got there and prevent it from happening again.