Uniform Securities Act

Question 1

Who needs to be registered

Answer 1

Broker-Dealer
Agent
Investment Advisor
Investment Advisor Representative

Question 2

Individuals

Answer 2

Agents
Investment Adviser Representative

Question 3

Investment Advisor

Answer 3

an individual or a company that receives compensation to provide advice to others concerning the investment, purchase, or sale of securities. The advice may be provided directly or indirectly.

Question 4

Investment Advisor

Answer 4

for compensation engages in the business of advising others either directly, or indirectly as to the value of securities or advisability of investing.

Question 5

Classified as and investment adviser

Answer 5

• Person must offer advice to others concerning securities
• The offering of such advice must be part of the person’s continuing line of business
• Offering the advice must receive compensation for the investment advice provided.

Question 6

Not an Investment Adviser

Answer 6

Banks and savings institutions whose investment advice only concerns securities offered by the U.S. government and/or specific municipal securities are not advisers.

Question 7

Incidental investment advice without being registered.

Answer 7

Teacher, Attorney, Engineer and Accountant

Question 8

Investment Contract

Question 9

“Person”

Answer 9

means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity.

Question 10

Natural Person

Answer 10

An individual human being

Question 11

Legal Person

Answer 11

an entity that can enter into contracts and own accounts (investments, savings, etc)

Question 12

Regulated Entitities

Answer 12

Broker-Dealers, Investment Advisors, Agents, Investment Advisor Representatives