Series 10 Exam Question 27: Answer and Explanation

Question: 27

A syndicate has published a tombstone ad prior to the issue becoming effective. Which of the following must appear in the tombstone ad?

I. A statement that the registration has not yet become effective

II. A statement that the ad is not an offer to sell the securities

III. Contact information

IV. A no commitment statement

• A. III and IV
• B. II and III
• C. I and II
• D. I, II, III, and IV

Correct Answer: D

Explanation:

All of the items listed must appear in the tombstone ad.