Securities RegistrationCâu 45 / 100
Which of the following is NOT an exempt security under the Uniform Securities Act?
a.A general obligation bond issued by a school district
b.Common stock issued by a commercial bank
c.Bonds issued by a nonprofit religious organization
d.A variable annuity contract issued by a licensed insurance company
Giải thích
The insurance company exemption covers traditional insurance and fixed annuity products, but a variable annuity is a security whose value depends on a separate investment account and it is not exempt on that basis. Municipal obligations, securities issued by banks, and securities of nonprofit religious and charitable organizations all appear on the exempt security list. The identity or nature of the issuer is what drives most of these exemptions.
Trích dẫn luật: Uniform Securities ActLuyện miễn phí toàn bộ 100 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An individual investor sells 200 shares of an unregistered local company directly to her neighbor in a one-time private arrangement, with no broker involved and no pattern of similar sales. This is best characterized as:
- A customer telephones her broker-dealer and asks to buy shares of a specific company that is not registered in the state. The firm made no recommendation and no solicitation. The trade is:
- Under the private placement exemption in the Uniform Securities Act, an issuer may make offers to no more than a limited number of non-institutional persons in any twelve-month period. Which additional condition applies?
- A church issues bonds to finance construction of a new fellowship hall and sells them to members of the congregation. Under the Uniform Securities Act, these bonds are:
- Which of the following is an exempt transaction under the Uniform Securities Act?
- In an administrative proceeding, a party claims that an offering qualified for an exemption from registration. Which statement is correct?
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