Under Uniform State Law, securities issued by public utilities regulated under the Public Utility Holding Act of 1935 are exempt securities. While bank, and savings and loan issues, are exempt, securities issued by bank holding companies are not.
What securities are exempt under the Uniform Securities Act?
Certain types of securities and certain transactions are deemed by the SEC to be exempt from registration requirements. Exempt Security – Common types of exempt securities are government securities, bank securities, high-quality debt instruments, non-profit securities, and insurance contracts.
Which of the following securities are exempt under the Uniform Securities Act quizlet?
Which of the following securities is/are EXEMPT under the Uniform Securities Act? Exempt securities under the Act include securities issued by Savings and Loans; municipal bonds, including industrial revenue bonds; and the securities of companies listed on stock exchanges (a “blue chip” exemption).
Which of the following is not an exempt security under the Uniform Securities Act?
By definition under the Uniform Securities Act, ‘A’, ‘C’, and ‘D’ are exempt securities and choice ‘B’, stock issued by local profit making manufacturing corporation not listed on an exchange is not listed as an exempt security.
Which of the following securities are exempt from the registration requirements of the Uniform Securities Act?
Securities issued by insurance companies, and Canadian municipal securities are exempt from registration under the USA. Any security that represents an interest in, or debt of, or is guaranteed by an insurance company organized under the laws of any state and authorized to business in this state is exempt.
What is an exempted security?
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.
Which of the following are non exempt securities under the Securities Act of 1933?
Government bonds, municipal bonds, and Small Business Investment Company issues are all exempt securities under the 1933 Act. Corporate bonds are non-exempt securities that must be registered with the SEC under the Securities Act of 1933.
Which of the following are not exempt from the sections of the Uniform Securities Act which require registration?
Under the Uniform Securities Act, equity options that are not listed or tied to a listed security would not be exempt from registration and filing of advertising materials.
Which of the following are exempt from the sections of the Uniform Securities Act which require registration and filing of advertising materials?
The sale of a security to a bank is an “exempt transaction” and is therefore exempt from registration and filing of advertising. 3. A non-issuer transaction, according to the Uniform Securities Act, is best described by which of the following?
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.
Are bonds exempt securities?
U.S. government securities — Treasuries — and municipal bonds are all exempt from registration.
Which of the following securities are typically exempt from state registration requirements?
Which of the following securities are typically exempt from state registration requirements? The best answer is C. State registration is not required for those securities that are exempt under the Federal Securities Acts, such as U.S. Government and Municipal debt.
Which of the following securities acts define S exempt issuers and exempt transactions?
Which of the following Securities Acts define(s) exempt issuers and exempt transactions? The Securities Act of 1933 covers the new issue (primary market) and defines exempt issuers and exempt transactions.
Is commercial paper an exempt security?
What U.S. offering exemptions are used for commercial paper? CP is not registered under the Securities Act and is issued pursuant to the exemption from registration under Section 3(a)(3) or in a private placement pursuant to Section 4(a)(2).
Which of the following is not considered an offer or a sale according to the Uniform Securities Act?
Under the Uniform Securities Act, an offer and sale does NOT exist if it is: the result of a class vote by stockholders regarding a merger or consolidation. a bona fide pledge or loan. an act incident to a judicially approved reorganization in which a security is issued in exchange for one or more outstanding shares.
Which of the following would be excluded from the definition of investment adviser under the Uniform Securities Act?
An IA who gives advice about bank securities for an advisory fee. Lawyers, accountants, teachers, and engineers whose advice is incidental to the practice of their profession would be excluded from the definition of Investment Adviser.
Which of the following are defined as an agent under the Uniform Securities Act an individual who represents?
The Uniform Securities Act defines an investment adviser representative as a partner, officer, director, or other individual employed by an investment adviser who makes recommendations; renders advice; manages accounts; solicits the sale of advisory services; or supervises employees who perform any of these functions.
Which of the following individuals would be defined as an agent under the Uniform Securities Act?
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.
Which of the following is an acceptable investment advisory contract provision under the Uniform Securities Act?
Which of the following is an acceptable investment advisory contract provision under the Uniform Securities Act? The best answer is C. Investment advisers can receive a fee based on a percentage of all assets under management; however, they cannot be compensated based solely on capital gains achieved.
Which of the following statements is correct regarding an unsolicited trade in an unregistered nonexempt security?
Which of the following statements is CORRECT regarding an unsolicited trade in an unregistered nonexempt security? The transaction is exempt if the broker-dealer does not maintain an office in the state from which the order is received.
Which of the following offerings is most likely exempt from the registration requirements of the Securities Act of 1933?
Municipal bonds are exempt from registration under the Securities Act of 1933.
Is commercial paper exempt from registration?
Commercial paper is exempt from registration under the 33 Act by the terms of Section 3(a)(3), which exempts “any note, draft, bill of exchange, or banker’s acceptance which arises out of a current transaction or the proceeds of which have been or are to be used for current transactions, and which has a maturity at the …
Which securities are exempt from registration?
The most common exemptions from the registration requirements include:
- Private offerings to a limited number of persons or institutions;
- Offerings of limited size;
- Intrastate offerings; and.
- Securities of municipal, state, and federal governments.
What bonds are tax-exempt?
Income from bonds issued by state, city, and local governments (municipal bonds, or munis) is generally free from federal taxes. * You will, however, have to report this income when filing your taxes. Municipal bond income is also usually free from state tax in the state where the bond was issued.
What is an exempted security?
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.
What type of securities offering is not exempted from registration with the SEC quizlet?
Corporate bonds are non-exempt securities that must be registered with the SEC under the Securities Act of 1933.
Which of the following are non-exempt securities under the Securities Act of 1933?
Government bonds, municipal bonds, and Small Business Investment Company issues are all exempt securities under the 1933 Act. Corporate bonds are non-exempt securities that must be registered with the SEC under the Securities Act of 1933.
Which of the following securities is exempt from registration quizlet?
Securities that are exempt from the registration provisions of the Securities Act of 1933 are principally governmental debt issues, including U.S. Government debt, U.S. Government agency debt, such as Ginnie Mae debt, and municipal debt such as general obligation bonds.
Which of these would not fall under an exemption transaction under the Securities Act?
Under the Uniform Securities Act, which of the following would NOT be considered an exempt transaction? 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.
Is commercial paper A security?
Commercial paper is a money-market security issued by large corporations to obtain funds to meet short-term debt obligations (for example, payroll) and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note.
Which of the following is not defined as a broker-dealer under the Uniform Securities Act?
The Uniform Securities Act excludes from the definition of a broker-dealer, any person who has no place of business in the State and who transacts business exclusively with: * issuers of securities involved in the transaction; or other broker-dealers; or banks, savings institutions, trust companies, insurance companies …
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.
Which of the following situations is considered an offer or offer to sell under the Uniform Securities Act?
Which of the following choices would be considered an offer or offer to sell under the Uniform Securities Act? Choice (b) describes an offering of stock rights, which is defined as an offer or offer to sell under the USA.
Which action is a prohibited practice under the Uniform Securities Act?
Under the Uniform Securities Act, which of the following are prohibited actions of an investment adviser? The USA prohibits an investment adviser from acting as principal or agent in a transaction with an advisory client without approval prior to completion (settlement) of the trade.
Which of the following are not required to register as investment advisers under the Investment Advisers Act of 1940 persons who give advice?
Under the Investment Advisers Act of 1940, which of the following persons is exempt from registration with the SEC? Under the Investment Advisers Act of 1940, anyone who gives advice about securities only to insurance companies is exempt from registration.
Which of the following would not be considered to be in the business of an investment adviser?
Agents and broker-dealers who do not charge separately for advice are excluded from the definition of investment adviser. Lawyers, accountants, teachers, and engineers are not considered to be in the business of rendering investment advice, as long as any advice given is incidental to the practice of the profession.
Which of the following would be excluded from the definition of investment adviser under the Uniform Securities Act?
An IA who gives advice about bank securities for an advisory fee. Lawyers, accountants, teachers, and engineers whose advice is incidental to the practice of their profession would be excluded from the definition of Investment Adviser.
Which of the following individuals is defined as an agent under the Uniform Securities Act quizlet?
An individual who represents an issuer in the sale of that issuer’s securities and who earns a commission on each transaction would be defined as an “agent” under the Uniform Securities Act if that individual represents the issuer: A. in sales of specified exempt securities.
Which of the following is an acceptable investment advisory contract provision under the Uniform Securities Act?
Which of the following is an acceptable investment advisory contract provision under the Uniform Securities Act? The best answer is C. Investment advisers can receive a fee based on a percentage of all assets under management; however, they cannot be compensated based solely on capital gains achieved.
Which of the following persons is defined as an adviser in the State that is exempt from registration in the State?
An investment adviser is exempted from registering in a State if the firm has no place of business in the State and has no more than: 5 clients in the State in the preceding 12 month period. A Federal Covered Adviser discovers a material error in its Form ADV.
Which of the following investments are prohibited under the UPIA?
Which of the following investments are prohibited under the UPIA? No type or class of investment is specifically banned under the Uniform Prudent Investor Act (UPIA).