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All of the following are defined as "institutional buyers" under the Uniform Securities Act EXCEPT:________a. banksb. insurance companiesc. investment companiesd. investment advisers

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Answer:

investment advisers

Step-by-step explanation:

Institutional buyers are knowledgeable and experienced investors who require less regulatory protection than regular investors. Institutional investors include sophisticated investors such as pension schemes, banks, trust funds, or any other entity composed of accredited investors.

Institutional investors will usually deal in large volumes of investments worth millions of dollars. They have enormous resources which may come from public saving such as deposits and insurance premiums. Investments advisers do not necessarily engage in a high-value part in dealings. Their primary role is to offer investment advice to unsophisticated investors.

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