Series 63 practice questionmediumAgent Registration—Exempt Transactions
Which person is NOT required to register as an agent in a state under the USA?
- AA salesperson for a broker-dealer selling exempt securities
- BA person representing an issuer in exempt transactions only✓ Correct answer
- CA person compensated for effecting transactions in non-exempt securities
- DA broker-dealer employee soliciting retail clients
Explanation
Why B — A person representing an issuer in exempt transactions only
Persons representing issuers in exempt transactions are excluded from the definition of agent under USA Section 401(b). Other options involve situations requiring registration.
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