SIE Exam Question 333: Answer and Explanation

Question: 333

A communication made available to 20 institutional clients and 20 retail clients is classified as

• A. institutional communication.
• B. retail communication.
• C. a blog post.
• D. correspondence.

Correct Answer: D

Explanation:

D - A communication made available to retail investors cannot be classified as institutional. If the number of retail recipients is up to and including 25 persons, it is classified as correspondence. For larger audiences (more than 25 retail persons), it is considered retail communication.