STC SIE Exam Prep | 92 Questions with 100% Correct Answers | Updated and Verified | 44 Pages

Who keeps track of the shareholders of a mutual fund? A. The custodian bank B. The transfer agent C. The investment adviser D. The underwriter - B. The transfer agent Which of the following choices would NOT be subject to the holding period restriction under Rule 144? A. Restricted stock acquired under an investment letter B. Restricted stock acquired under a stock option plan C. Control stock acquired under a private placement D. Control stock acquired through an open-market purchase - D. Control stock acquired through an open-market purchase There is a required holding period of six months for all restricted stock. Restricted stock is unregistered stock that was acquired as a result of a private placement. There is no required holding period for control stock. However, if an affiliate (control person) acquires stock as a result of a private placement, this stock would be considered restricted stock rather than controlstock and would be subject to the holding period. Control stock acquired as a result of an openmarket purchase is exempt from the holding period.