Series 63 practice questioneasyExchange-Listed Securities
An agent in State A is offering shares of a company listed on the NASDAQ Stock Market. Under the USA, the Administrator of State A has what authority regarding registration of this security?
- AMay not require registration, but may require notice filing
- BMay require full registration and approval
- CMay deny registration based on merit review
- DMay not require registration or notice filing✓ Correct answer
Explanation
Why D — May not require registration or notice filing
NASDAQ-listed securities are federal covered securities. A state may not require their registration, merit review, or an ordinary notice filing solely because they are offered in the state, although state antifraud authority remains.
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