SIE Exam Question 499: Answer and Explanation

Question: 499

For an insider to sell unregistered stock under an exemption from registration with the SEC, Form 144, Notice of Offering, which contains certain information, must be filed with the SEC. The insider can sell securities during the period of time in which the notice of offering is effective, which is:

• A. 12 months.
• B. 90 days.
• C. 60 days.
• D. 6 months.

Correct Answer: B

Explanation:

B: An insider may sell securities under Rule 144 for 90 days.