Series 63 practice questionmediumPublisher Exclusion Limits
Which of the following factors would LEAST likely disqualify a publisher from the exclusion under USA Section 401(c)?
- AAccepting compensation from issuers for coverage
- BPublishing on an irregular, event-driven schedule
- COffering specific recommendations to subscribers
- DPublishing regularly scheduled, impersonal advice✓ Correct answer
Explanation
Why D — Publishing regularly scheduled, impersonal advice
Regular, impersonal publications are squarely within the exclusion; the other factors (A, B, C) each could forfeit the exclusion—compensation creates a conflict, irregularity fails the test, and tailored advice is not covered.
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