Series 6 - Investment Company And Variable Contracts Products Representative Exam
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All of the following are exempt from registration under the Paper Act EXCEPT:
Commercial paper with a maturity of less than 270 days
A
Banker's acceptances with a maturity of less than 270 days
B
Securities acquired in private placements
C
Junk bond funds
D
Explanations
High-yield (or junk) bond funds are not exempt from registration under the Securities Act of 1933.