Series 63 practice questioneasyExempt Securities - Government Securities
Under the Uniform Securities Act (USA), which of the following is considered an exempt security?
- AA U.S. Treasury bond✓ Correct answer
- BA corporate debenture
- CA municipal revenue bond issued by a foreign city
- DA limited partnership unit
Explanation
Why A — A U.S. Treasury bond
U.S. Treasury bonds are exempt securities under USA Section 402(a)(1). Corporate debentures and limited partnership units are not exempt. Municipal bonds issued by foreign cities are generally not exempt unless specifically recognized.
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