Which of the following is a security as defined by the Uniform Securities Act (USA)?

Question

Quizplus · Accepted Answer

Both a debenture and a futures option contract on wheat are securities as defined by the USA. A debenture is a long-term, unsecured debt instrument and is specifically listed as a security in the Act. Although commodity futures contracts are not considered to be securities as defined by the Act, options on commodity futures contracts are.

Which of the Following Is a Security as Defined by the Uniform