SIE Exam Practice Question 333
Question: 333
A communication made available to 20 institutional clients and 20 retail clients is classified as
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.
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