Which of the following securities are typically exempt from state registration requirements? I U. S. Government issues
II Municipal issues
III Securities listed on a national stock exchange ("blue chips")
IV New securities for an issuer who has filed registration statements previously in the state
A. I and II
B. II and IV
C. I, II, III
D. I, II, III, IV

C. I, II, III

Explanation: U.S Government issues, municipal issues, and Securities listed on a national stock exchange ("blue chips") are typically exempt from state registration requirements. The reason is because state registration is not required for those securities that are exempt under the Federal securities Acts. In addition, in what is known as "blue chip exemption", state laws exempt listed companies from registering in the state because if the company is listed on an exchange, and is duly registered with the SEC, then that is all that is needed.

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