Series 63 practice questionmediumExempt Securities - Foreign Government Securities
Which of the following Canadian securities is NOT exempt under the USA solely because of the identity of its issuer?
- AA bond issued by the national government of Canada
- BA bond issued by a Canadian province
- CA bond issued by a Canadian municipal government
- DShares of a Canadian corporation listed on the Toronto Stock Exchange only✓ Correct answer
Explanation
Why D — Shares of a Canadian corporation listed on the Toronto Stock Exchange only
The USA exempts valid obligations of Canada, Canadian provinces, and their political subdivisions. Shares of an ordinary Canadian corporation do not receive that governmental-issuer exemption merely because they are listed only on the Toronto Stock Exchange.
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