To qualify as an intrastate offering under SEC Rule 147, which of the following is...

FINRA Series-7 Question Answer

To qualify as an intrastate offering under SEC Rule 147, which of the following is true of the issue?

it must be approved by the SEC

it must be sold only to bona fide residents of one state

it cannot exceed $1,500,000 in value

it must consist of common stock only

Series-7 PDF/Engine

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