The Administrator of a State Will Deny the Registration of a Security

The Administrator of a state will deny the registration of a security if
I. the mandated filing fee has not been paid.
II. the compensation of the underwriters is excessive.
III. the registration statement is incomplete.
IV. the issuer is registering the security through the registration by coordination process and has not complied with all the stipulated requirements.

A) I, II, III, or IV
B) I or III only
C) III or IV only
D) I, III or IV only