* Finance: An easy acronym suitable for identifying NON-EXEMPT SECURITIES, that can be used during the Uniform Securities Examination, Series 63 Exams.
*How it works: You the acronym "
C4. R. E. F.T.I." or simply "Crefti" each time one is asked figure out which security
will be exempt from
state registration. The
definition of CREFTI is for non-exempt securities. ANY SECURITY ON THIS LIST MUST BE REGISTERED AT THE STATE LEVEL.
Non-Exempt securities (MUST register):
*C- Currency
*C- Condos
*C- Collectibles
*C- Commodity Futures
*R- Residence
*E- Endowments
*F- Fixed Annuities
*T-Traditional (Whole ) Insurance
*I -IRA or Keogh plans
(Hint: any security not on this list IS either an exempt or
Federal Covered security, thus need not register at the State level)
Example:" According to the provisions given under NSMIA and the Uniform Securities Act, which of the following securities my be registered with the
State Administrator....(
long list of securities provided)
Answer: Use CREFTI --
anything NOT on this list is exempt from registration! (Bingo!)