Series 63 practice questioneasyExclusions from Security Definition
Which of the following products is NOT defined as a security under the Uniform Securities Act?
- AVariable annuity
- BFixed insurance contract✓ Correct answer
- CInvestment contract
- DStock option
Explanation
Why B — Fixed insurance contract
Fixed insurance contracts are specifically excluded from the definition of security under the USA; variable products, investment contracts, and options are all included.
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