Series 10 Exam Question 35: Answer and Explanation

Question: 35

A firm participating in the offering of a private placement may sell the private placement to:

• A. No more than 12 nonaccredited investors in any 12-month period.
• B. No more than six nonaccredited investors in any 12-month period.
• C. No more than 35 nonaccredited investors in any 12-month period.
• D. No more than 15 nonaccredited investors in any 12-month period.

Correct Answer: C

Explanation:

The number of nonaccredited investors is limited to 35 in any 12-month period.