Which of the Following Transactions of Sale of Securities Would

Which of the following transactions of sale of securities would be exempt from the registration requirement?

A) Transactions made by an issuer.
B) Transactions made by an underwriter.
C) Offerings of small business investment companies not made in accordance with rules and regulations of the Securities and Exchange Commission.
D) Private offerings to a limited number of people who do not propose to redistribute their securities.
E) Securities of municipal,state,federal and other government instrumentalities,of charitable institutions,of banks,and of carriers not subject to the Interstate Commerce Act.