Final answer:
The statement is false; exempt securities, exempt transactions, and federal covered securities are generally not subject to state-level filing requirements under the Uniform Securities Act (USA) but are regulated under federal law.
Step-by-step explanation:
The statement that sales literature relating to exempt securities, exempt transactions, and federal covered securities is subject to the filing requirements of the Uniform Securities Act (USA) is false. Exempt securities and transactions, as well as federal covered securities, are typically not subject to the state-level registration requirements imposed by the USA.
This is because these categories of securities are governed by federal law and regulations, specifically through the Federal Securities Act and the oversight of the Securities and Exchange Commission (SEC).
As for the information disclosure, while the SEC does mandate that non-exempt securities provide detailed disclosures to protect investors, exempt securities and federal covered securities are subject to different regulations which preclude them from many of the state filing requirements, relying instead on federal rules for registration, disclosure, and sales literature.
However, it is essential to note that while some exempt securities might not require state registration, they still must adhere to federal requirements and, in some cases, states' anti-fraud provisions.