Series 79 practice questionmediumProspectus Requirements
Which party is not within Section 11(a)'s enumerated categories solely by virtue of that role?
- AChief financial officer
- BNon-underwriter secondary dealer✓ Correct answer
- CLead managing underwriter
- DAuditor of the financial statements
Explanation
Why B — Non-underwriter secondary dealer
Section 11 reaches every statutory underwriter, whether or not it signed. A selling-group participant can be an underwriter depending on its distribution role.
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