Securities That Are Exempt from SEC Registration Are Also Exempt

question 77

True/False

Securities that are exempt from SEC registration are also exempt from securities laws.

---

Definitions:

Reciprocity Norm

A social norm that suggests individuals should repay, in kind, what another has provided or done for them.

Role Transference

A psychological phenomenon where an individual assumes the attitudes, behaviors, or roles of another group or person, often seen in marketing when consumers identify with brand personalities.

Consubstantiation

The concept of acknowledging a shared essence among entities while still maintaining their distinct identities.

Liminality

A transitional state or phase in which a person or group is on the threshold between two different positions, conditions, or stages, often associated with rituals.