Which of the Following Types of Securities or Securities Transactions

question 29

Multiple Choice

Which of the following types of securities or securities transactions are exempt from the need to be registered under the Securities Act of 1933?
I.Commercial paper with a maturity of nine months or less.
II.Intrastate issues in which the securities are offered and sold only within one state.
III.Securities exchanged by an issuer exclusively with its existing shareholders with no commission charged.

• A) I and II
• B) II
• C) I, II, and III
• D) III

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Definitions:

FICA Tax

The FICA tax is a United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.

Tax Burden

The total amount of taxes that individuals or businesses must pay, often considered in relation to their income or profits.

Payroll Tax

Obligatory payments required from employers or employees, usually expressed as a proportion of the salaries employees receive.

Tax Burden

The total amount of taxes paid by individuals or businesses, expressed as a percentage of income or revenue, indicating the financial impact of taxation.