Q:

Under the Uniform Securities Act, federal covered securities include those sold to qualified purchasers only. Qualified purchasers include:
a) Individuals with investments of at least $2,500,000 or investment managers with at least $30,000,000 under management
b) Individuals with investments of at least $5,000,000 or investment managers with at least $25,000,000 under management
c) Individuals with investments of at least $3,000,000 or investment managers with at least $25,000,000 under management
d) Individuals with investments of at least $5,000,000 or investment managers with at least $30,000,000 under management

A:
The correct answer is b.
Qualified purchasers are defined under the Uniform Securities Act as either a person who owns at least $5,000,000 of investments or an investment manager with at least $25,000,000 of investment assets under management.

MORE FAQS

  1. Under the Uniform Securities Act, which of the following advisers is NOT defined as a federal covered ...

  2. Under the Investment Company Act of 1940, an investment company must have minimum net assets of how much before it can issue shares to the public?

  3. Under the Investment Company Act of 1940, an investment company, or mutual fund company, must have minimum net assets of how much before it can issue shares to the public?

  4. Under the Uniform Securities Act, registration requirements for an investment adviser representative ...

  5. Under the Investment Company Act of 1940, which of the following is not a formal classification ...

  6. Based on the Employment Retirement Income Security Act (ERISA), a retirement plan may be considered ...

  7. What is the difference between risk and opportunity cost?

  8. Where does a hedge fund get its money?

  9. What proportion of my overall investments should be in securities?

  10. A sales representative or broker-dealer that violates the Uniform Securities Act when offering or selling ...

  11. Under the Uniform Securities Act, a registrant who holds custody of client funds must do all of the ...

  12. Which version of the Uniform Securities Act should I study to prepare for my Series 63 exam?

  13. A sales representative solicits and executes a mutual fund trade ...

  14. Which financial instruments have par values?

  15. How can I protect my portfolio from market corrections?

  16. Are dividends the best way to make money for retirement?

  17. How many attempts at each CFA exam is a candidate permitted?

  18. What's the average salary of a financial advisor?

  19. Why is Hong Kong considered a tax haven?

RELATED FAQS

  1. Under the Uniform Securities Act, which of the following advisers is NOT defined ...

    The correct answer is b). Federal covered advisers include those who manage client assets of $25,000,000 or more or who advises ...
  2. Under the Investment Company Act of 1940, an investment company must have minimum ...

    A. $25,000B. $50,000C. $100,000D. $500,000 Correct answer: CAn investment company (mutual fund) must have at ...
  3. Under the Investment Company Act of 1940, an investment company, or mutual fund company, ...

    A. $25,000B. $50,000C. $100,000D. $500,000 Correct answer: CAn investment company (mutual fund) must have at least ...
  4. Under the Uniform Securities Act, registration requirements for an investment adviser ...

    The correct answer is a) Investment advisor representatives do not need to include a minimum amount of net capital since ...
  5. Under the Investment Company Act of 1940, which of the following is not a formal ...

    The correct answer is d. A mutual fund is technically registered under the ’40 Act as an open-end management investment company. ...
  6. Based on the Employment Retirement Income Security Act (ERISA), a retirement plan ...

    The correct answer is b. With regard to eligibility, the plan must cover all employees 21 and older who have worked for the ...
RELATED TERMS
  1. Uniform Securities Act

    An act created as a starting point for state-level securities ...
  2. Investment Management

    A generic term that most commonly refers to the buying and selling ...
  3. Money Manager

    A business or bank responsible for managing the securities portfolio ...
  4. Discretionary Investment Management

    A form of investment management in which buy and sell decisions ...
  5. State Administrator

    The government agency or official who oversees and enforces state-level ...
  6. Assets Under Management - AUM

    The market value of assets that an investment company manages ...
Hot Definitions
  1. Derivative

    A security with a price that is dependent upon or derived from one or more underlying assets.
  2. Fiduciary

    A fiduciary is a person who acts on behalf of another person, or persons to manage assets.
  3. Sharpe Ratio

    The Sharpe Ratio is a measure for calculating risk-adjusted return, and this ratio has become the industry standard for such ...
  4. Death Taxes

    Taxes imposed by the federal and/or state government on someone's estate upon their death. These taxes are levied on the ...
  5. Retained Earnings

    Retained earnings is the percentage of net earnings not paid out as dividends, but retained by the company to be reinvested ...
  6. Demand Elasticity

    In economics, the demand elasticity refers to how sensitive the demand for a good is to changes in other economic variables. ...
Trading Center