Laws & Regulations第 17 / 100 题
Under the Uniform Securities Act, the term 'security' would NOT typically include:
a.An investment contract
b.A note or bond
c.A fixed-payment whole life insurance policy
d.A share of stock
解析
A fixed, guaranteed whole life insurance policy and fixed annuities are generally excluded from the definition of a security. Investment contracts, notes, bonds, and stock are securities. Variable products, by contrast, are securities because of investment risk borne by the holder.
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