Q:

Under the Uniform Securities Act, which of the following are defined as securities?
I. Variable annuities
II. Fixed annuities
III. Oil & gas program fractional interests
IV. Real estate limited partnerships
a) I, III & IV
b) III & IV
c) I & II
d) I, II, III & IV

A:

The correct answer is a.
Fixed annuities are not considered securities, since the purchaser bears no investment risk. However, variable annuities, real estate limited partnerships and fractional interests in oil & gas programs are all defined as securities.


MORE FAQS

  1. Which of the following are major differences between accumulation units and annuity units in the separate ...

  2. In the separate account of a variable annuity, which of the following characteristics apply to annuity ...

  3. Which of the following are not types of open-end management investment companies ...

  4. What are the risks of annuities in a recession?

  5. Which of the following signatures are required on a client’s new account form ...

  6. Which of the following are tools that are employed by the Federal Reserve in its efforts to control the money supply?

  7. Under the Telephone Consumer Act of 1991, a telemarketer must provide which of the following to a called ...

  8. Which of the following statements is (are) true with respect to the calculation of returns of composites ...

  9. Which statements about common shareholder rights are FALSE? I. A shareholder may exchange shares to ...

  10. Which of the following statements is (are) true with respect to setting the proper constraints in managing ...

  11. What is the difference between a fixed and variable annuity?

  12. Federal covered securities are subject to which of the following requirements ...

  13. Which of the following statements is (are) true with respect to the factors that a manager must take ...

  14. A margin account has a long market value of $12,000, a debit balance of -$6,000 ...

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

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

  17. Why is Hong Kong considered a tax haven?

  18. Is smart beta cheaper than hedge funds?

RELATED FAQS

  1. Which of the following are major differences between accumulation units and annuity ...

    The correct answer is d. All of these are differences between accumulation and annuity units. In addition, there are a fixed ...
  2. In the separate account of a variable annuity, which of the following characteristics ...

    The correct answer is b. When the holder of a variable annuity contract annuitizes the contract, he/she is asking that the ...
  3. Which of the following are not types of open-end management investment companies ...

    The correct answer is d) Hedge funds are extremely aggressive entities that engage in margin and short-selling.  They are ...
  4. What are the risks of annuities in a recession?

    Distinguish between the most common types of annuities, and understand which types of annuities pose the most risk during ...
  5. Which of the following signatures are required on a client’s new account form ... ...

    The correct answer is B. While local practices of a broker-dealer might require the client to sign the form, even when opening ...
RELATED TERMS
  1. Valuation Period

    The time between the end of the business day of the first business ...
  2. Annuity

    A financial product that pays out a fixed stream of payments ...
  3. Variable Annuity

    An insurance contract in which, at the end of the accumulation ...
  4. Hybrid Annuity

    An insurance contract that allows buyers to allocate funds to ...
  5. Annuity In Advance

    An amount of money that is regularly paid at the beginning of ...
  6. Secondary Market Annuity

    A secondary market annuity (SMA) is a transaction in which the ...
Hot Definitions
  1. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  2. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  3. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  4. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  5. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  6. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
Trading Center