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 would be defined as an investment adviser under the Uniform Securities Act?
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 are defined as an agent under the Uniform Securities Act I an individual who represents an issuer in selling exempt securities II an individual who represents an issuer in selling non exempt securities III an individual who represents a broker-dealer in selling exempt securities IV an individual?
An “agent”
is an individual (not a “person” as defined by the Uniform Securities Act) who represents a broker-dealer or issuer in effecting securities transactions. An insurance sales person who sells variable annuities is an agent because variable annuities are defined as a security.
Which of the following persons is required to register as an investment advisor under the Uniform Securities Act?
The best answer is C.
Advisers with $100,000,000 or more of assets under management
must register with the SEC as “Federal Covered Advisers” and cannot be required to be registered in each State (though each State can require a notice filing). The SEC then issued some interpretations regarding this requirement.
Which of the following are defined as an agent under the Uniform Securities Act an individual who represents?
The Act defines an “agent” as an individual who represents
a broker-dealer or issuer in effecting
, or attempting to effect, purchases or sales of securities.
Why are they called Blue Sky laws?
The term “blue sky law” is said to have originated in the early 1900s, gaining widespread
use when a Kansas Supreme Court justice declared his desire to protect investors from speculative ventures that had “no more basis than so many feet of ‘blue sky
. ‘”
Which of the following are not defined as securities?
Which of the following is NOT defined as a security under the Uniform Securities Act? C; Under the
Act, IRAs and Keoghs
are not defined as securities. Variable annuities are securities under the Act (since the purchaser bears the investment risk), as are unit investment trusts and commodity option contracts.
Which of the following persons would be considered an agent according to the Uniform Securities Act?
Under the Uniform Securities Act, agent means
any individual (other than a broker-dealer)
who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities.
Which of the following is an exempt security under the Uniform Securities Act?
The securities exempt from the registration requirements of the Uniform Securities Act include
securities issued by the U.S. or Canadian government or any state, province, or political subdivision
; securities issued by any foreign government with which the U.S. has diplomatic relations; securities issued by banks, …
Which order is not required to be retained as a record by a broker-dealer?
Which order is NOT required to be retained as a record by a broker-dealer?
Subscription order pursuant to a rights offerings
.
What is a covered advisor?
A federal covered advisor is
an investment advisor that is registered with the SEC under the Investment
Advisers Act of 1940. An investment advisor must register with the SEC if they have more than $110 million in assets under management.
Which of the following choices is considered an offer or an offer to sell securities 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 of these would not be fully covered by SIPC insurance?
Terms in this set (14) 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.
Can broker dealers use testimonials?
Broker-dealers are permitted to use testimonials in their advertising
. … Under both NASAA rules and the Investment Advisers Act of 1940, IAs and IARs are prohibited from using testimonials in advertising – it makes no difference if the testimonial is paid or unpaid.
Which person is excluded from the definition of a broker dealer under the Uniform Securities Act?
(no legal authority to trade securities) Under the Uniform Securities Act, all of the following are defined as “persons” EXCEPT:
General partner in a limited partnership
.
Public utility selling to public investors
.
administrator of the State
.
Who can make a loan to a registered investment adviser?
Who can make a loan to a Registered Investment Adviser? An
investment adviser registered with
the SEC under the Investment Advisers Act of 1940 changes from an S Corporation to a C Corporation.
