Exercise
Answer true or false.
1. True or false. Exercising an option on a security is considered a sale.
2. True or false. Sales calls are not considered to be offers.
3. True or false. A radio communication broadcast from State A and heard in State B is considered to be an offer in both State A and State B.
4. True or false. State administrators have some jurisdiction over federal covered securities.
5. True or false. An administrator can never institute a stop order against a registration statement on the basis of information that it knew at the time that registration went into effect.
Answers
1. True. The ex