Breaking Down Critical Topics on the Series 79 Exam Session 2

[@Knopman]

Clarification on Rule 147: An issuer must satisfy one of these requirements to be eligible for the Rule 147 intra-state offering exemption:
80% of the issuer's assets must be in the state
80% of the issuer's revenues must be generated in the state
80% of the proceeds of the sale of securities must be used in the state
A majority of the issuer's employees are located in the state
The issuer is not required to satisfy all of these, just one must be satisfied.

[@sheKnwsBiz]

OMG I laughed so hard at the 'New Jersey iced tea sounds kind of gross' line..