Which of the Following Statements Regarding "Registration by Qualification" Is

Which of the following statements regarding "registration by qualification" is true?

A) Registration by qualification refers to the fact that certain categories of securities are exempt from state registration requirements.
B) Registration by qualification is the preferred method used by issuers since it requires the least amount of paperwork.
C) In its simplest form, registration by qualification requires the issuer to supply voluminous amounts of information about both the firm and its directors, officers, and major shareholders.
D) Registration by qualification refers to the fact that the highest quality bonds, i.e., those with a AAA rating, are exempt from registration with the state.