"A registered representative is approached by the president of an investment club to buy an IPO being offered by the representative's firm. Which statement is TRUE?"

The investment club is not a restricted purchaser and may buy the IPO

Explanation:

In the financial market a restricted purchaser is someone that has has direct engagement in a business or who has affiliates that are directly engaged in the business that wants to sell securities.

In this scenario a restricted purchaser will be someone that has direct business engagement in the representative firm. Since this is not so the president of the investment firm is free to purchase the IPO.

An Initial Public Offering is when a companies decides to make its shares available to the public for the first time.

answerall of the above;