Question

The term agent, according to the Uniform Securities Act, would include all of the following people EXCEPT

[A] one who effects transactions of registered securities with clients who are members of the public.
[B] one who works for a broker-dealer involved in selling securities that have been listed on a securities exchange.
[C] one who represents a broker-dealer and performs securities transactions where no transaction-based fees are charged or paid.
[D] one who represents an issuing body in effecting transactions that are exempt.

Answer 1

D. one who represents an issuing body in effecting transactions that are exempt

Step-by-step explanation:

An agent, represents a broker-dealer or issuer and do all duties stated in the options A, B, and C.

But, as stated in the Uniform Securities Act of 1956, Part IV. General Provisions, Sec. 401.b, Definition, illustrating the different functions of the people as mentioned in the Act, "an Agent does not include an individual who represents an issuer in effecting transactions in a security exempted."