Which of the following securities is exempt from registration under the securities act of 1933? a. shares of nonvoting common stock provided their par value is less than $1.b. a class of stock given in exchange for another class by the issuer to its existing stockholders without the issuer paying a commission. c. limited partnership interests sold for the purpose of acquiring funds to invest in bonds issued by the united states. d. corporate debentures that were previously subject to an effective registration statement provided they are convertible into shares of common stock.

b. A class of stock given in exchange for another class by the issuer to its existing stockholders without the issuer paying a commission.

Explanation:

As in this exchange and issue of stock no new stocks are issued as there is no commission involved as already issued shares are transferred, to another shareholders holding shares.

This ensures that only shares which affect the existing voting rights as in number they increase or decrease the the current voting share, and that the number of shares increase or decrease, are not required to registration.

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