Question

All of the following securities can be sold by both an individual holding a Series 7 General Securities License and an individual holding a Series 6 Investment Companies / Variable Annuities registered representative's license EXCEPT:
a. Unit Investment Trusts
b. Mutual Funds
c. Initial Public Offerings of
d. losed End Funds
e. Real Estate Investment Trusts

Answer 1

Answer:

e. Real Estate Investment Trusts

Explanation:

An individual that holds Series 6 Investment Companies / Variable Annuities initially  is allowed only to sell mutilate bonds, initial public entry of closed end bonds of which which these cannot be traded by the person unless series 7 is passed generally that is unit investment trust and variable annuities.  to sell securities like real estate investment trust,  the broader or wider  Series 7 General Securities License is needed.

Real estate investment trust (REITs) usually gives or  issue shares of beneficial interest which trade like other stocks, either on stock exchanges or over-the-counter. These securities are not redeemable.