SIE practice questionhardSecurities Act of 1933 - Exempt Transactions
Which transaction is exempt from SEC registration under the Securities Act of 1933?
- AA sale of shares on a stock exchange
- BA public offering to national investors
- CAn intrastate offering to residents of a single state✓ Correct answer
- DA foreign company offering ADRs in the U.S.
Explanation
Why C — An intrastate offering to residents of a single state
Intrastate offerings are exempt if only state residents participate. National or exchange offerings require registration; ADRs require SEC filings.
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