Question 1

Which one of the following forms is used in connection with employee stock plans?

Accepted Answer

A)  S-8. 
B)  S-3. 
C)  S-4. 
D)  S-1. 
E)  S-11. 
A)  S-8. 
B)  S-3. 
C)  S-4. 
D)  S-1. 
E)  S-11.

Question 2

The audit committee of an entity subject to SEC regulation will do all of the following except:

Accepted Answer

A)  Be responsible for agreeing to fee compensation of the independent audit firm. 
B)  Certify the annual financial statements. 
C)  Be comprised only of individuals who are not members of management. 
D)  Approve non-audit services provided by the independent audit firm. 
E)  Serve as liaison between the board of directors and the independent audit firm. 
A)  Be responsible for agreeing to fee compensation of the independent audit firm. 
B)  Certify the annual financial statements. 
C)  Be comprised only of individuals who are not members of management. 
D)  Approve non-audit services provided by the independent audit firm. 
E)  Serve as liaison between the board of directors and the independent audit firm.

Question 3

What was the purpose of the Securities Act of 1933?

Accepted Answer

The purpose of the Securities Act of 193

Question 4

Which of the following securities offerings is not exempt from registration prior to their sale?

Accepted Answer

A)  Securities issued to a company's board of directors. 
B)  Securities issued by governments. 
C)  Securities issued by banks. 
D)  Securities issued by savings and loan associations. 
E)  Offerings of no more than $1 million made to any number of investors within a 12-month period. 
A)  Securities issued to a company's board of directors. 
B)  Securities issued by governments. 
C)  Securities issued by banks. 
D)  Securities issued by savings and loan associations. 
E)  Offerings of no more than $1 million made to any number of investors within a 12-month period.

Question 5

What is a wraparound filing?

Accepted Answer

A wraparound filing is a method of filin

Question 6

Which one of the following Federal laws was enacted in 1935?

Accepted Answer

A)  The Securities Act. 
B)  The Securities Exchange Act. 
C)  The Trust Indenture Act. 
D)  The Investment Company Act. 
E)  The Public Utility Holding Company Act. 
A)  The Securities Act. 
B)  The Securities Exchange Act. 
C)  The Trust Indenture Act. 
D)  The Investment Company Act. 
E)  The Public Utility Holding Company Act.

Question 7

Which one of the following forms is used when companies have filed with the SEC for less than 36 months but are not large enough to file form S-3?

Accepted Answer

A)  S-8. 
B)  S-6. 
C)  S-4. 
D)  S-1. 
E)  S-11. 
A)  S-8. 
B)  S-6. 
C)  S-4. 
D)  S-1. 
E)  S-11.

Question 8

What is meant by the term incorporation by reference?

Accepted Answer

Incorporation by reference mea

Question 9

Which one of the following prohibits fraudulent and unfair behavior such as sales practice abuses and insider trading?

Accepted Answer

A)  The Securities Act of 1933. 
B)  The Securities Exchange Act of 1934. 
C)  The Investment Company Act of 1940. 
D)  The Investment Advisers Act of 1940. 
E)  The Sarbanes-Oxley Act of 2002. 
A)  The Securities Act of 1933. 
B)  The Securities Exchange Act of 1934. 
C)  The Investment Company Act of 1940. 
D)  The Investment Advisers Act of 1940. 
E)  The Sarbanes-Oxley Act of 2002.

Question 10

What is blue sky legislation?

Accepted Answer

Blue sky legislation represents state le

Question 11

What are some of the reasons for the corporate scandals of 2001 and 2002?

Accepted Answer

The corporate scandals of 2001 and 2002

Question 12

EDGAR stands for:

Accepted Answer

A)  Electronic Debits, Gains, Assets and Revenues System. 
B)  Electronic Data Gathering, Analysis, and Retrieval System. 
C)  Explanatory Data Gathering, Analysis, and Retrieval System. 
D)  Explanatory Debits, Gains, Assets and Revenues System. 
E)  Electronic Data, Gross Analysis, and Revenues System. 
A)  Electronic Debits, Gains, Assets and Revenues System. 
B)  Electronic Data Gathering, Analysis, and Retrieval System. 
C)  Explanatory Data Gathering, Analysis, and Retrieval System. 
D)  Explanatory Debits, Gains, Assets and Revenues System. 
E)  Electronic Data, Gross Analysis, and Revenues System.

Question 13

Which one of the following forms is used when no other form is prescribed?

Accepted Answer

A)  S-4. 
B)  S-3. 
C)  S-11. 
D)  S-8. 
E)  S-1. 
A)  S-4. 
B)  S-3. 
C)  S-11. 
D)  S-8. 
E)  S-1.

Question 14

The SEC's operating costs are supported through:

Accepted Answer

A)  Tax revenues of the federal government. 
B)  Registration fees from issuers offering securities to the public. 
C)  Fees paid by stock exchanges. 
D)  Fees paid by stockbrokers. 
E)  Fees paid by accounting firms that practice before the SEC. 
A)  Tax revenues of the federal government. 
B)  Registration fees from issuers offering securities to the public. 
C)  Fees paid by stock exchanges. 
D)  Fees paid by stockbrokers. 
E)  Fees paid by accounting firms that practice before the SEC.

Question 15

What is EDGAR?

Accepted Answer

A)  An electronic filing system developed by the SEC. 
B)  The principal system that determines whether brokers, dealers, and investment companies and advisors comply with federal securities laws. 
C)  The office that supports the SEC and its staff in all aspects of information technology. 
D)  An electronic compliance system that documents SEC violations. 
E)  The SEC division that oversees the securities market in the U.S. 
A)  An electronic filing system developed by the SEC. 
B)  The principal system that determines whether brokers, dealers, and investment companies and advisors comply with federal securities laws. 
C)  The office that supports the SEC and its staff in all aspects of information technology. 
D)  An electronic compliance system that documents SEC violations. 
E)  The SEC division that oversees the securities market in the U.S.

Question 16

What is included in Part I of a securities registration statement?

Accepted Answer

Part I is a prospectus that includes fin

Question 17

What information is required in proxy statements?

Accepted Answer

Proxy statements must include the follow

Question 18

What information needs to be included in Form 10-Q?(1) Income statements for the most recent quarter and for the year to date as well as for the comparative periods in the previous year.(2) Income statements for the most recent quarter and for the year to date as well as for the comparative periods in the previous two years.(3) A statement of cash flows is necessary, but only for the year to date as well as for the corresponding period in the preceding year.(4) Two balance sheets:one for the end of the most recent quarter and one showing the company's financial position at the end of the previous fiscal year.

Accepted Answer

A)  1 and 3. 
B)  2, 3, and 4. 
C)  1 and 2. 
D)  1, 3, and 4. 
E)  2 and 4. 
A)  1 and 3. 
B)  2, 3, and 4. 
C)  1 and 2. 
D)  1, 3, and 4. 
E)  2 and 4.

Question 19

When would a letter of comments be issued by the SEC?

Accepted Answer

A)  To request clarification of a registration statement. 
B)  To convey your pertinent comments to the SEC. 
C)  In response to a company's filing of Form 8-K. 
D)  After receiving the company's Form 10-K. 
E)  To indicate that a registration statement has been approved. 
A)  To request clarification of a registration statement. 
B)  To convey your pertinent comments to the SEC. 
C)  In response to a company's filing of Form 8-K. 
D)  After receiving the company's Form 10-K. 
E)  To indicate that a registration statement has been approved.

Which one of the following forms is used in connection with employee stock plans?

The audit committee of an entity subject to SEC regulation will do all of the following except:

What was the purpose of the Securities Act of 1933?

Which of the following securities offerings is not exempt from registration prior to their sale?

What is a wraparound filing?

Which one of the following Federal laws was enacted in 1935?

Which one of the following forms is used when companies have filed with the SEC for less than 36 months but are not large enough to file form S-3?

What is meant by the term incorporation by reference?

Which one of the following prohibits fraudulent and unfair behavior such as sales practice abuses and insider trading?

What is blue sky legislation?

What are some of the reasons for the corporate scandals of 2001 and 2002?

EDGAR stands for:

Which one of the following forms is used when no other form is prescribed?

The SEC's operating costs are supported through:

What is EDGAR?

What is included in Part I of a securities registration statement?

What information is required in proxy statements?

When would a letter of comments be issued by the SEC?

Accounting for Estates and Trusts

Accounting and Reporting for Private Not-For-Profit Organizations

Accounting for State and Local Governments, Part II

Accounting for State and Local Governments, Part I

Partnerships: Termination and Liquidation

Partnerships: Formation and Operation

Accounting for Legal Reorganizations and Liquidations

Worldwide Accounting Diversity and International Accounting Standards

Translation of Foreign Currency Financial Statements

Foreign Currency Transactions and Hedging Foreign Exchange Risk

Segment and Interim Reporting

Consolidated Financial Statements - Ownership Patterns and Income Taxes

Variable Interest Entities, Intra-Entity Debt, Consolidated Cash Flows, and Other Issues

Consolidated Financial Statements Intra-Entity Asset Transactions

Consolidated Financial Statements and Outside Ownership

Consolidations - Subsequent to the Date of Acquisition

Consolidation of Financial Information

The Equity Method of Accounting for Investments

Filters

Exam 12: Financial Reporting and the Securities and Exchange Commission

Which one of the following forms is used in connection with employee stock plans?

The audit committee of an entity subject to SEC regulation will do all of the following except:

What was the purpose of the Securities Act of 1933?

Which of the following securities offerings is not exempt from registration prior to their sale?

What is a wraparound filing?

Which one of the following Federal laws was enacted in 1935?

Which one of the following forms is used when companies have filed with the SEC for less than 36 months but are not large enough to file form S-3?

What is meant by the term incorporation by reference?

Which one of the following prohibits fraudulent and unfair behavior such as sales practice abuses and insider trading?

What is blue sky legislation?

What are some of the reasons for the corporate scandals of 2001 and 2002?

EDGAR stands for:

Which one of the following forms is used when no other form is prescribed?

The SEC's operating costs are supported through:

What is EDGAR?

What is included in Part I of a securities registration statement?

What information is required in proxy statements?

When would a letter of comments be issued by the SEC?

Accounting for Estates and Trusts

Accounting and Reporting for Private Not-For-Profit Organizations

Accounting for State and Local Governments, Part II

Accounting for State and Local Governments, Part I

Partnerships: Termination and Liquidation

Partnerships: Formation and Operation

Accounting for Legal Reorganizations and Liquidations

Worldwide Accounting Diversity and International Accounting Standards

Translation of Foreign Currency Financial Statements

Foreign Currency Transactions and Hedging Foreign Exchange Risk

Segment and Interim Reporting

Consolidated Financial Statements - Ownership Patterns and Income Taxes

Variable Interest Entities, Intra-Entity Debt, Consolidated Cash Flows, and Other Issues

Consolidated Financial Statements Intra-Entity Asset Transactions

Consolidated Financial Statements and Outside Ownership

Consolidations - Subsequent to the Date of Acquisition

Consolidation of Financial Information

The Equity Method of Accounting for Investments

Filters