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FINRA Series 7

Category - Series 7

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Which of the following must be true in order for an offering to qualify as an intrastate offering under Rule 147?

80% of the proceeds of the offering must be used in that state
80% of the corporation’s assets must be located in that state
80% of the corporation’s revenue must be earned in that state
all of the above are required

Explanation

Answer: D - all of the above are required. An intrastate offering under Rule 147 requires qualification under all of these conditions.

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FINRA Series 7

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