Here is a potential exam question (a facsimile, that is) . . .
Under NASD/FINRA rules, which TWO of the following are considered sales literature?
I. web page
II. letter sent to a client
III. group e-mail sent to 33 recipients
IV. prepared script for a seminar
A. I, II
B. III, IV
C. II, IV
D. I, III
EXPLANATION: a letter/fax/email sent to fewer than 25 prospects in a 30-day period is correspondence, but if it's sent to 25 or more prospects, the communication becomes sales literature subject to pre-approval and filing by a principal. Materials that are broadcast to an unknown audience are considered advertising. Therefore, a web page, a billboard, or any TV, radio, newpaper, magazine,etc. advertisements = advertising. Sales literature is delivered to a targeted/controlled audience. Sales literature includes: market letters, circulars, scripts for cold-calling or seminars, computer slide shows, and research reports.