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 exercise of options on securities is always considered to be a sale.
