SIPC Ensures Investors Against Failure of a Brokerage Firm Up

question 65

Multiple Choice

SIPC ensures investors against failure of a brokerage firm up to a limit of ________.

• A) $100,000
• B) $250,000
• C) $500,000
• D) $1,000,000

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Definitions:

UCC

The Uniform Commercial Code represents an extensive collection of legislation that oversees business dealings in the United States.

Negotiable Interest

An interest in a financial asset, like a note or draft, that can be transferred from one party to another in a manner that the transferee gains legal ownership and the right to enforce the instrument.

Primarily Liable

Having the main or first responsibility for fulfilling an obligation or debt.

Imposter

A person who deceives others by pretending to be someone else for personal or financial gain.