[Series 65] 70, Exempt Securities and Exempt Transactions

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - To distinguish between exempt securities (based on what they are) and exempt transactions (based on how they are sold). - That securities issued directly by a bank are exempt, while those issued by a bank holding company are not. - Why variable annuities are considered non-exempt securities that must be registered, unlike fixed insurance products. - The specific state rules for a private placement: offers to no more than 10 non-institutional investors in a 12-month period. - The critical rule that no security or transaction is ever exempt from the anti-fraud provisions of the Uniform Securities Act. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep