1. Which of the following is NOT a recognized exemption to the registration requirements for securities as defined by the Securities Exchange Commission?

(a) family purpose;

(b) intrastate offering;

(c) private placement;

(d) small business.

2. Administrative law agencies usually have three types of authority. They are:

(a) executive, common law, and statutory;

(b) executive, legislative, and judicial;

(c) common law, statutory law, and UCC;

(d) common law, statutory law, and case law.