Q:

Under the Uniform Securities Act, there are anti-fraud provisions that apply to securities. Which of the following statements is true?
a) Anti-fraud provisions apply to both exempt and non-exempt securities
b) Anti-fraud provisions apply to exempt securities only
c) Anti-fraud provisions apply to non-exempt securities only
d) Anti-fraud provisions apply neither to exempt or non-exempt securities

A:

The correct answer is a.
As with other antifraud provisions under the Act, the antifraud provisions apply to all securities without exempt from registration or part of an exempt transaction.


RELATED FAQS

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

    The correct answer is b. Federal covered securities are subject to only federal registration with the SEC and do not have ...
  2. According to the USA, it is unlawful for a person to offer to sell a security in ...

    a. the security is registered with Federal Reserve. b. it is a federal covered security, is exempted from registration, or ...
  3. Transactions are exempt from registration where …

    Transactions are exempt from registration where … a. A sale, or offer of sale is made to ALL clients of a brokerage ...
  4. Under the Uniform Securities Act, all of the following are prohibited EXCEPT ... ...

    The correct answer is c. Refusing to follow a client’s instructions and making false statements (or omitting true ones!) ...
RELATED TERMS
  1. Uniform Policy Provisions, Health Insurance

    A provision that states that insurance companies must use standard ...
  2. SEC Form D

    A filing with the Securities and Exchange Commission (SEC) required ...
  3. Exon-Florio Provision

    A provision that allows the president of the United States to ...
  4. Make Whole Call (Provision)

    A type of call provision on a bond allowing the borrower to pay ...
  5. Callable Security

    A security with an embedded call provision that allows the issuer ...
  6. Provision For Credit Losses - PCL

    In accounting, an estimation of potential losses that a company ...
Hot Definitions
  1. Treynor Ratio

    A ratio developed by Jack Treynor that measures returns earned in excess of that which could have been earned on a riskless ...
  2. Buyback

    The repurchase of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies ...
  3. Tax Refund

    A tax refund is a refund on taxes paid to an individual or household when the actual tax liability is less than the amount ...
  4. Gross Domestic Product - GDP

    The monetary value of all the finished goods and services produced within a country's borders in a specific time period, ...
  5. Inflation

    The rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of ...
  6. Merchandising

    Merchandising is any act of promoting goods or services for retail sale, including marketing strategies, display design and ...
Trading Center