A training manager asks you to analyze the following USA issue. The exam wants the best state-securities answer, not a practical business answer. Which of the following is required for registration by qualification but NOT for registration by coordination?

Why D — Detailed information about the issuer's directors, officers, and 10% shareholders including their security holdings and compensation

Under USA Section 304, registration by qualification requires the most extensive disclosure, including detailed biographical and financial information about directors, officers, and principal shareholders. Registration by coordination under Section 303 relies on the SEC filing for much of this information, making it less burdensome at the state level. The exam trick is the framing, not the underlying Uniform Securities Act rule.