The SEC Has Defined the Intrastate Offering Exemption More Precisely

question 81

Multiple Choice

The SEC has defined the intrastate offering exemption more precisely in Rule 147.According to this rule:

• A)intrastate resale of such securities is permitted for nine months.
• B)interstate resale of such securities is permitted for nine months.
• C)intrastate resale of such securities is permitted for twelve months.
• D)interstate resale of such securities is permitted for twelve months.

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Definitions:

Dementia

A category of brain diseases that cause a long term and often gradual decrease in the ability to think and remember, significantly affecting daily functioning.

Charged With Negligence

Accused of failing to provide the necessary care or action required in a specific situation, resulting in harm or risk.

Reasonable Care

The standard of care expected to be exercised by a reasonable person under similar circumstances to prevent harm or injury.

Inadequate Referral

A referral that does not suitably match the client's needs, either due to the referred professional's lack of expertise, resources, or appropriateness for the client’s issue.