QUESTION $45$

$1\mathrm{.}67$ points

Which of the following is not considered an accredited investor?

Any natural person whose annual income has been at least $$200,000$ for the two previous years and expects to make at least $$200,000$ in the current year.

Any natural person who has a net worth of at least $$500,000.$

Colleges and universities.

Any corporation or partnership with total assets in excess of $$5$ million.

Insiders of the issuers, such as executive officers or directors.