- CFA Exams
- CFA Level I Exam
- Topic 5. Equity Investments
- Learning Module 4. Overview of Equity Securities
- Subject 4. Investing in Non-Domestic Equity Securities
CFA Practice Question
SEC registration is not required for ______ ADRs.
B. Level II
C. Rule 144A
A. Level I
B. Level II
C. Rule 144A
Correct Answer: A
Level I ADRs do not require FULL registration with the SEC.
User Contributed Comments 4
| User | Comment |
|---|---|
| kirand | I think correct answer should be Rule 144A , as it does not require sec registration at all . |
| Amogh92 | kirand is correct, Rule 144A doesn't need SEC registration and if this question is going to be as vague as it is, C is the most appropriate answer. A could be right but C is definitely right. |
| khalifa92 | level 1 ADR = F-6 level 2 ADR = F-6 level 3 ADR = F-1 & F-6 Rle 144A = no SEC requirements -> because private iam dissappointed at this site. |
| thevinu | Options should be provided as I. II. III. where both I. and III. are correct. Please fix this. |