Which of the Following Is not a Characteristic of Shelf

Multiple Choice

Which of the following is not a characteristic of shelf registrations? Shelf registrations:

A) Were introduced by Rule 415.
B) Allow large firms to register security issues and sell them piecemeal during the following six years.
C) Provide flexibility and reduce registration fees and expenses.
D) Are typically used for the sale of straight debentures rather than common stock or convertible issues.
E) All of the above are characteristics of shelf registrations.