ABC Securities is a 2-office broker/dealer in Idaho that intends to underwrite an initial public offering of one million shares of stock for Circular, Inc. If the issue will be offered exclusively to residents of Idaho, registration of this offering:
A) will most likely occur by qualification.
B) will most likely occur by coordination.
C) will most likely occur by notice filing.
D) is not required because of the de minimis test.
Answer: Will most likely occur by qualification.