Episode
Series 7 Exam Prep 6, Exempt Securities and Exempt Transactions
- Podcast
- Open Exam Prep
- Published
- Jun 13, 2026
- Duration seconds
- 248
- Processing state
not_requested
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Summary
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical distinction between exempt securities (based on the issuer) and exempt transactions (based on how the security is sold), a common point of confusion on the exam. - The specific financial thresholds for an individual to be considered an accredited investor under Regulation D: over $1 million in net worth or an income of $200,000 ($300,000 for joint). - The requirements of Rule 144, which dictates a six-month holding period for restricted securities and imposes volume limitations on sales by corporate affiliates. - The difference between an accredited investor and a Qualified Institutional Buyer (QIB), with QIBs being institutions managing at least $100 million in securities for Rule 144A transactions. - The key provisions of major exemptions like Regulation A (small issues), Rule 147 (intrastate offerings), and Regulation D (private placements). For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep