SIE practice questioneasySecurities Act of 1933
Which of the following is EXEMPT from registration under the Securities Act of 1933?
- AInitial public offering of a technology company
- BMunicipal bond issued by a state✓ Correct answer
- CCorporate bond sold in the U.S.
- DShares of a new mutual fund
Explanation
Why B — Municipal bond issued by a state
Municipal securities are generally exempt from registration under the Securities Act of 1933. IPOs, corporate bonds, and mutual funds typically require registration.
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