Broker-dealer has no office in state and transacts
fewer than five trades during a 12-month period.
Given these facts, which of these statements
I. The broker-dealer is required to register with the Administrator
II. The broker-dealer is not required to register with the Administrator
III. The transactions are considered exempt
IV. The transactions are not considered exempt
a) II & IV
b) II & III
c) I & III
d) I & IV
Under these circumstances, the broker-dealer is not required to register with the state and the transactions are considered exempt. This is considered an isolated non-issuer transaction exemption.
The correct answer is b. I, II and III are correct since all parties are required to notify the Administrator.
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The correct answer is a. The sales representative or broker-dealer is required to pay interest, court and attorney’s fees ...
The trading of securities, such as stocks, that occurs within ...
A person or firm in the business of buying and selling securities, ...
The act of selling undesirable securities from the broker-dealer's ...
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Certain types or amounts of income not subject to federal income ...
A unique identifier assigned by a business to each transaction ...