SEC CO AP Practice Questions - SEC Phase 2-7D Compliance Officer Associated Person Exam

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Under Section 10.1(k) of the SRC, the sale of securities to qualified buyers is an exempt transaction. Who among the following is NOT automatically considered a qualified buyer?

A registered investment company (mutual fund). A licensed insurance company. An individual retail investor with a net worth of Php 5 million. A licensed bank or trust company.

Correct Answer:

An individual retail investor with a net worth of Php 5 million.

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