Laws & RegulationsPregunta 23 de 100
Which of the following is generally an exempt security under the Uniform Securities Act?
a.A security issued by a bank organized under U.S. law
b.A limited partnership interest sold to the public
c.A promissory note from a start-up sold door to door
d.A newly issued penny stock offered to retail clients
Explicación
Securities issued by banks are exempt securities under the Act because of the regulated nature of the issuer. Public limited partnership interests, speculative promissory notes, and penny stocks are not automatically exempt. The exemption rests on issuer characteristics.
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