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FINRA Series 6

Category - Series 6

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Which of the following is exempt from registering as an investment company under the Investment Company Act of 1940?

a unit investment trust
a non-diversified mutual fund
a company that sells its securities only to accredited investors
a company that has no sales charges or management fees

Explanation

Answer: C - A company that sells its securities only to accredited investors is exempt from registering as an investment company under the Investment Company Act of 1940. All the other choices describe investment companies that are required to file a registration statement with the SEC.

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FINRA Series 6

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FINRA Series 6

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