Which of the following would meet the requirements for an "exempt security?"
A) a $500,000 promissory note that matures in two years
B) commercial paper with a $100,000 face value and a maturity of five months that is rated AA by Standard and Poors
C) a $25,000 promissory note that matures in three months
D) commercial paper with a $200,000 face value and a maturity of three months that is rated BB by Standard and Poors
Correct Answer:
Verified
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