A:

a. the security is registered with Federal Reserve.
b. it is a federal covered security, is exempted from registration, or is legitimately registered under the USA.



c. it is not a federal covered security, and is not exempted from registration.



d. it is part of an offering from a foreign government.



Answer: B



According to the USA it is "unlawful for a person to offer or sell a security" in a state unless:
• "the security is a federal covered security;"
• "The security, transaction, or offer is exempted from registration."
• "The security is registered under" the USA.



RELATED FAQS
  1. If an issuer wishes to register a security in the state ...

    The correct answer is a. Registration by coordination is permitted when the issuer has filed a registration application with ... Read Answer >>
  2. How long is the validity period for a Series 63 exam if I have not been registered?

    Find out how registration begins using Series 63 results and how long scores are valid without registration. Learn more about ... Read Answer >>
  3. A corporation, which does virtually all of its business in the state where it has ...

    The correct answer is d) Rule 147 is a rule that allows for intrastate offerings to be exempt from the requirements of full ... Read Answer >>
  4. If ABC corporation, which is listed on the New York Stock Exchange ...

    The correct answer is d). This transaction would qualify under two different exemptions – the first because it is an exchange ... Read Answer >>
  5. Can you trade securities before you pass the Series 63 exam?

    Find out more about state registration and Series 63 exam scores. Learn how long these scores are valid and how registration ... Read Answer >>
  6. Who is exempt from paying Social Security taxes?

    Learn about the groups of people who qualify for exemption from Social Security taxes, and explore the process of applying ... Read Answer >>
Related Articles
  1. Professionals

    Succeeding At The Series 63 Exam

    Your career as a securities agent begins with this test. We'll show you how to score high.
  2. Investing

    Series 63 Exam State Securities Administrator

    Learn what you need to know about the state securities administrator to pass the Series 63 exam.
  3. Markets

    Trade Name Vs. Trademark: Know the Difference

    Understand the differences between a trade name and a trademark, the different functions they serve and registration considerations for business owners.
  4. Markets

    What It Takes To Be "Made In The USA"

    Discover the rules and standards behind the "Made in the USA" label.
  5. Retirement

    When Do I Stop Paying Social Security Tax?

    Almost never, unless you belong to one of these special groups.
  6. Personal Finance

    8 States With Estate Taxes

    Understand the difference between the federal estate tax and state-specific estate taxes. Learn about some of the worst states with estate taxes.
  7. Investing

    How Does Securities Lending Work?

    Securities lending is the act of loaning a stock or other security to an investor or firm.
  8. Investing

    What's the Primary Market?

    The primary markets are where investors can get first crack at a new security issuance.
  9. Financial Advisor

    What Is A “Broker-Dealer” And Why Should You Care?

    For many investors, the financial services industry is a strange and mysterious place filled with a language all in its own. Terms like “alpha,” “beta” and “Sharpe-Ratio” ...
  10. Financial Advisor

    Laws & Regulations To Know Before Changing the Name of Your Business

    Discover some of the most important steps you need to take after making a decision to change your legally established business name.
RELATED TERMS
  1. Covered Security

    A class of securities, created by the National Securities Market ...
  2. SEC Form 1

    An application for and amendments to an application for registration ...
  3. Piggyback Registration Rights

    A form of registration rights that grants the investor the right ...
  4. Small Corporate Offering Registration - SCOR

    A form of corporate securities registration designed to reduce ...
  5. Registration

    1. The process by which a company files required documents with ...
  6. SEC Form 8-B12G

    A filing with the Securities and Exchange Commission (SEC) concerning ...
Trading Center