5) Under the Securities Act of 1933, liability is imposed for improper offers and sales when:

A) a person offers or sells unregistered and nonexempt securities in violation of the Act.

B) the issuer inadvertently omits a few material facts in the registration statement.

C) the investor finds that the registration statement for the security contained an untrue statement.

D) a person sells his securities to another private party without notifying the Securities and Exchange Commission.