Fact Pattern 7-1
College Bound, Inc., markets test and study prep materials and courses. College Bound wants to make an initial public offering of securities. The firm believes that it qualifies for an exemption under Regulation A from the full registration requirement of the Securities Act of 1933.
-Refer to Fact Pattern 7-1. If College Bound is exempt from the federal registration requirement, the firm is

Question

Fact Pattern 7-1
College Bound, Inc., markets test and study prep materials and courses. College Bound wants to make an initial public offering of securities. The firm believes that it qualifies for an exemption under Regulation A from the full registration requirement of the Securities Act of 1933.
-Refer to Fact Pattern 7-1. If College Bound is exempt from the federal registration requirement, the firm is​

Quizplus · Accepted Answer

While College Bound may be exempt from the federal registration requirement under Regulation A, it does not automatically mean that the firm is exempt from state registration requirements. State securities laws may still apply, and College Bound may need to comply with these laws depending on the state(s) it wants to offer and sell its securities in.

Fact Pattern 7-1 College Bound, Inc., Markets Test and Study Prep Materials and Prep