A William Blair agent is asked whether a 'certificate of interest in a profit-sharing agreement' and a fixed annuity contract are both considered securities under the Uniform Securities Act. Which statement is ACCURATE?

1. ABoth are securities under the USA.
2. BOnly the certificate of interest is a security; a fixed annuity is not.✓ Correct answer
3. COnly the fixed annuity is a security; the certificate of interest is not.
4. DNeither is a security under the USA.

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