SIE Exam Question 680: Answer and Explanation

Question: 680

Which of the following is the voice of state securities agencies responsible for efficient capital formation and grass-roots investor protection in the U.S.? Their fundamental mission is to protect consumers who purchase securities or investment advice, and their jurisdiction extends to a wide variety of issuers and intermediaries who offer and sell securities to the public.

• A. NAIC
• B. NASAA
• C. NASD
• D. SIPC

Correct Answer: B

Explanation:

The NASAA (North American Securities Administrators Association) is the voice of state securities agencies responsible for efficient capital formation and grass-roots investor protection in the U.S. Their fundamental mission is to protect consumers who purchase securities or investment advice, and their jurisdiction extends to a wide variety of issuers and intermediaries who offer and sell securities to the public.