One of the requirements of the Uniform Securities Act is that nonexempt securities must be registered prior to sale in the state unless the sale is made in an exempt transaction. Which of the following would most likely register by qualification?
A) An equipment trust certificate for the Great American Railroad's newest locomotives.
B) Common stock issued by The First National Bank of Largeville.
C) A rights offering by ABC Corporation whose common stock is listed on the NYSE.
D) First mortgage bonds issued by XYZ Computers, a company whose IPO was issued under SEC Rule 147.
Answer: First mortgage bonds issued by XYZ Computers, a company whose IPO was issued under SEC Rule 147.