State laws require that securities be registered (or qualified) with authorities.
A) state, not federal
B) federal, not state
C) both state and federal
D) neither state nor federal

Question

Quizplus · Accepted Answer

Both state and federal laws require that securities be registered or qualified with authorities. The Securities Act of 1933 sets the requirements for federal registration, while state laws create their own registration requirements. Companies must comply with both sets of laws to sell securities lawfully.

State Laws Require That Securities Be Registered (Or Qualified) with Authorities