Exercise
Answer true or false
1. _____Exercising an option on a security is considered a sale.
2. _____Sales calls are not considered to be offers.
3. _____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. _____State administrators have some jurisdiction over federal covered securities.
5. _____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 exercise of options on securities is always considered to be a sale.
2. False. Sales calls are always