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Exam Series 63 All Questions

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Exam Series 63 topic 1 question 13 discussion

Actual exam question from FINRA's Series 63
Question #: 13
Topic #: 1
[All Series 63 Questions]

Which of the following is not considered to be a security, as defined by the Uniform Securities Act (USA)?

  • A. a debenture
  • B. a certificate of deposit (CD)
  • C. a put option
  • D. an annuity contract wherein an insurance company promises to pay a fixed sum, either in a lump amount or through periodic payments.
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Suggested Answer: D 🗳️
The Uniform Securities Act excludes annuity contracts wherein an insurance company promises either to pay a fixed sum, either in a lump amount or through periodic payments, from its definition of a security. Debentures, CDs, and option contracts are all classified as securities under the USA.
by lolojepu at April 6, 2025, 1:35 a.m.

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