Final answer:
A registered representative can participate in personal political activities, like voting or expressing private support, without violating political contribution rules.
Step-by-step explanation:
If a registered representative is involved in the underwriting of municipal securities and lives in the same town as a candidate running for a position on the municipality's board, an action that would not be a violation of the political contribution rule would likely be engaging in personal political activities that do not leverage their professional role or resources, such as voting or privately expressing support without making a contribution.