# Series 7 Exam Prep 6, Exempt Securities and Exempt Transactions

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-6-exempt-securities-and-exempt-transactions
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-7-exam-prep-6-exempt-securities-and-exempt-transactions.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-06-13T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-7-exam-prep-6-exempt-securities-and-exempt-transactions
Audio file: https://episodes.captivate.fm/episode/2f294f4d-8da3-4463-ab0f-df5e69f278bc.mp3
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Duration seconds: 248

## Resource

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

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## Transcript

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