Identify the correct option for the statement which is not exempt from registration with the SEC under the Securities Act of 1933.

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1 The most important exemption from the prospectus requirement are the "Accredited Investors" provisions in the Securities Act. Who are defined as Accredited Investors? Multiple Choice Banks and investment dealers. Individuals and their spouses owning net financial assets exceeding $1 million; and individuals who, either alone or with a spouse, have net assets of at least $5 million. Banks, investment dealers and governments. All of these are accredited investors. Governments.

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Chapter 12, Problem 15P

To determine

Identify the correct option for the statement which is not exempt from registration with the SEC under the Securities Act of 1933.

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