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NEW QUESTION: 1
Which of the following persons is not subject to the fingerprinting requirements of the Securities Exchange Act of 1934?
I. a registered transfer agent of a securities exchange
II. a firm that engages only in the sale of mutual fund shares
III. a receptionist at a brokerage firm who answers phones and directs calls to the agents employed by the firm
IV. a market maker in the over-the-counter market
A. II and III only
B. III only
C. I and III only
D. II, III, and IV only
Explanation: Only Selections II and III are not subject to the fingerprinting requirements of the Securities Exchange Act of 1934. Firms that engage only in the sale of open-end investment company (mutual fund) shares, as described in Selection II, are exempt; and employees who do not engage in the sale of securities or activities involving any aspect of the securities or monies of a non -exempt firm are exempt, which is the case for the receptionist at the brokerage firm described in Selection III.