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Exam Series 63 All Questions

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Exam Series 63 topic 1 question 235 discussion

Actual exam question from FINRA's Series 63
Question #: 235
Topic #: 1
[All Series 63 Questions]

Which of the following is a security as defined by the Uniform Securities Act (USA)?

  • A. a debenture
  • B. a futures option contract on wheat
  • C. a term life insurance policy
  • D. Both A and B are securities as defined by the Uniform Securities Act.
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Suggested Answer: D 🗳️
Both a debenture and a futures option contract on wheat are securities as defined by the USA. A debenture is a long-term, unsecured debt instrument and is specifically listed as a security in the Act. Although commodity futures contracts are not considered to be securities as defined by the Act, options on commodity futures contracts are.
by lolojepu at April 6, 2025, 1:52 a.m.

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