Which of the following is defined as a security under the Uniform Securities Act?
Collateral trust certificates, investment contracts, options, and option contracts, regardless of the underlying asset, are identified as securities in the Uniform Securities Act and are subject to its provisions.
Which security is not subject to registration under the Uniform Securities Act?
Which security is NOT subject to registration under the Uniform Securities Act? Equipment trust certificate of a railroad subject to interstate commerce commission regulations.
Which of the following financial instruments is not considered a security?
Commodities such as gold, silver, wheat, and pork bellies are not securities. Options to purchase or sell commodity futures, options on stocks, and stocks are securities.
Which of the following are defined as an agent under the Uniform Securities Act an individual who represents?
(2) “Agent” means an individual, other than a broker-dealer, who represents a broker- dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer’s securities.
Is the Uniform Securities Act federal or state?
States were the first authorities in the United States to regulate securities and the securities industry. Kansas adopted the first securities law in 1911, and other states soon followed. It was not until the 1930s that Congress began enacting federal securities laws.
Does the Uniform Securities Act cover registration of securities?
Every applicant for initial or renewal registration as an investment adviser, or as an investment adviser representative who is subject to registration under this act shall pay a registration fee as required by the administrator.
What are exempt securities?
Exempt securities, under Section 4 of the Securities Act of 1933, are financial instruments that carry government backing and typically have a government or tax-exempt status. … Securities issued by insurance companies. Public utility and railroad securities. Non-profit securities.
Which of the following is not typically required to be included in the state registration application of a broker-dealer or investment adviser?
Which of the following is NOT typically required to be included in the State registration application of a broker-dealer or investment adviser? The best answer is B. Password protected websites are seen by a specific audience, so they are defined as sales literature.
Which of the following are excluded from the definition of an investment adviser under the Uniform Securities Act?
Excluded from the definition of “agent” are individuals who represent ISSUERS in trading exempt securities; clerical employees of broker-dealers with no sales function; and silent partners of broker-dealers (who have no active business role and don’t solicit).
What is considered a security?
A security is a financial instrument, typically any financial asset that can be traded. … In the United States, the term broadly covers all traded financial assets and breaks such assets down into three primary categories: Equity securities – which includes stocks. Debt securities – which includes bonds and banknotes.
What is a security and non security?
Some personal financial assets such as life insurance could be called non-securities. However, non-security assets do not themselves undergo an institutionalized process for public trading on exchanges. This makes them highly illiquid investments, in contrast to securities such as stocks, mutual funds, and bonds.
Is art considered a security?
Art becomes an investment with more liquidity when it is approved and traded as securities. Securities law strictly requires registration and disclosure of investment contract, thus shares of art qualified as securities under the law must meet the requirements of the Acts.
Which of the following is are defined as a broker-dealer under the Uniform Securities Act?
Under the Uniform Securities Act, a “broker-dealer” is defined as a person that engages in the business of effecting securities transactions for the account of others; or a person that engages in the trading of securities for its own account.
Who created the Uniform Securities Act?
The Uniform Securities Act (USA) is a model statute designed to guide each state in drafting its state securities law. It was created by the National Conference of Commissioners on Uniform State Laws (NCCUSL).
Which of the following persons is excluded or exempt from registration as a broker-dealer in a state?
*A person buying and selling securities for customers’ accounts is deemed a broker-dealer under the Uniform Securities Act. Specifically excluded from the definition of a broker-dealer are banks, trust companies, and savings and loan associations.