Who does the Uniform Securities Act apply to?

(1) Broker-dealers and broker-dealer agents. Every applicant for initial or renewal registration shall pay a registration fee as required by the [Administrator] in the case of a broker-dealer or agent. (2) Investment advisers and investment adviser representatives.

What does the Uniform Securities Act do?

The Uniform Securities Act is a model law created as a starting point for state-level securities regulation. The purpose of the Uniform Securities Act is to deal with securities fraud at the state level and to assist the Securities and Exchange Commission (SEC) in enforcement and regulation.

Which of the following securities is are exempt under the Uniform Securities Act?

Terms in this set (8) Which of the following securities are EXEMPT under the Uniform Securities Act? D; The Uniform Securities Act exempts Industrial Loan Association issues; Insurance Company issues; Federal Credit Union issues; and Bank and Savings and Loan issues (among others).

What is not considered a security under the Uniform Securities Act?

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. Under the Uniform Securities Act, an issuer is any person who issues or proposes to issue a security for sale to the public.

Which of the following are defined as persons under the Uniform Securities Act?

All of the following are defined as “persons” under Uniform Securities Act EXCEPT: individuals. joint stock companies. unincorporated organizations. trusts where the interests of the beneficiaries are not evidenced by a security.

Which of these would not be fully covered by SIPC insurance?

Which of these would not be fully covered by SIPC insurance? C, Gold is not a security and is not covered by SIPC. Money markets, ETFs, mutual funds, and junk bonds are all types of securities.

Which of the following transactions is not exempt under the Uniform Securities Act?

Under the Uniform Securities Act, which of the following would NOT be considered an exempt transaction? C) Even though the bonds are an exempt security, the sale to an individual client is not an exempt transaction. Sales to institutions, sales by fiduciaries, or unsolicited transactions are all exempt.

Which of the following individuals is excluded from the definition of an agent under the Uniform Securities Act?

Individuals who represent ISSUERS effecting trades with employees, partners, directors, and officers of the issue are EXCLUDED from the definition of an agent as long as no commissions or other compensation is given to the sales rep for soliciting these persons. DEFINITION OF INVESTMENT ADVISER.

Which issue would be subject to registration under the Uniform Securities Act?

Which issue would be subject to registration under the Uniform Securities Act? Exempt securities under the Uniform Securities Act include bank issues, insurance company issues and municipal issues. The corporate issues that are exempt under State law must be either exchange or NASDAQ listed.

Which of the following is not a responsibility of SIPC?

SIPC does not protect against market or interest-rate risk. Also, SIPC does not protect against losses due to fraud or theft by broker-dealer employees. To cover the losses resulting from fraud or theft, broker-dealers are required to maintain insurance which is referred to as a fidelity bond.

Which of the following activities are prohibited practices under the Uniform Securities Act?

Which of the following activities are prohibited practices under the Uniform Securities Act? Selling an unregistered non-exempt security to a financial institution.

Which of the following are not exempt issues under the Securities Act of 1933?

Insurance company offerings are exempt from the 1933 Act, EXCEPT for variable annuity and variable life contracts. Thus, a fixed annuity offered by an insurance co. is exempt from the 1933 Act. Listed stocks, and stock options are non-exempt issues that must be registered with the SEC.

Which of the following are defined as issuers under the Uniform Securities Act?

Which of the following are defined as “issuers” under the Uniform Securities Act? I. For corporate securities, the corporation itself is the issuer. II. For collateral trust certificates, the person performing the functions of depositor under the Trust agreement is the issuer.

What is the difference between SIPC and FDIC?

FDIC insurance protects your assets in a bank account (checking or savings). SIPC insurance, on the other hand, protects your assets in a brokerage account.

Should I worry about SIPC?

provide protection, and remember that while SIPC can come to the rescue in cases of bankruptcy or fraud, it does not protect you against market losses. Congress created SIPC in 1970, and nearly all brokerage firms registered with the Securities and Exchange Commission must be members.

What does SIPC coverage cover?

SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash.

Who must comply with Rule 144?

The seller of “restricted” or “control” securities must comply with Rule 144 to obtain the benefit of the exemption from registration provided by Section 4(a)(1) of the Securities Act for resales by persons who are not underwriters.

What does the Uniform Securities Act cover?

The Uniform Securities Act covers: I Registration of securities in each State II Registration of broker-dealers in each State III Registration of investment advisers in each State IV Registration of agents of broker-dealers and investment advisers in each State StatusA A. I and II StatusB B. III and IV StatusC C. II, III, IV Correct D.

Can a broker-dealer recommend securities under the Uniform Securities Act?

Under the Uniform Securities Act, the agent: StatusA A. can recommend securities to the customer because the broker-dealer is registered in the State of Florida StatusB B. can recommend securities to the customer because the call was received in the State of Missouri where the agent is registered

Is state regulation of offerings of securities that are not covered securities uniform?

Uniformity of State Regulation of Offerings of Securities That Are Not “Covered Securities” 1. General issues relating to registered or exempt offerings a. Registered offerings of securities that are not “nationally traded securities” i. Survey responses ii. State initiatives b.

Which statement best defines an agent under the Uniform Securities Act?

The best answer is C. To be defined as an “agent” under the Uniform Securities Act, an individual must take, or solicit, orders from the public. Individuals who do not solicit the public or who solely perform clerical or managerial duties, do not fall under the definition.