Question 1

Overruling the FASB.

Accepted Answer

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

Question 2

The goals of the SEC include all except which one of the following?

Accepted Answer

A) prohibiting the dissemination of materially misstated information. 
B) controlling the number of companies whose stock is listed on major stock exchanges. 
C) regulating the operation of securities markets. 
D) ensuring that full and fair information is disclosed to all investors before the securities of a company are allowed to be bought and sold. 
E) preventing the misuse of information especially by inside parties. 
A) prohibiting the dissemination of materially misstated information. 
B) controlling the number of companies whose stock is listed on major stock exchanges. 
C) regulating the operation of securities markets. 
D) ensuring that full and fair information is disclosed to all investors before the securities of a company are allowed to be bought and sold. 
E) preventing the misuse of information especially by inside parties.

Question 3

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

Accepted Answer

(1)Greed by corporate executives; (2)a f

Question 4

Which one of the following regulates the subsequent trading of securities through brokers and exchanges?

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 5

What is a private placement of securities?

Accepted Answer

A private placement of securit

Question 6

Which one of the following forms is used in connection with registration of securities of real estate companies?

Accepted Answer

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

Question 7

What information is required in proxy statements?
(1)Five-year summary of operations;
(2)Five-year summary of industry segments
(3)Listing of company directors and executive officers;
(4)Management discussion and analysis (MD&A).

Accepted Answer

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

Question 8

When must Form 10-Q be filed with the SEC?

Accepted Answer

Form 10-Q must be filed with t

Question 9

According to the text,which of the following is not exempt from registration?

Accepted Answer

A) offerings of more than $5 million. 
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) offerings of more than $5 million. 
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 10

Regulation S-K

Accepted Answer

A) controls the listing of securities by stock exchanges. 
B) establishes requirements for nonfinancial information to be filed with the SEC. 
C) prescribes the form of financial statements to be filed with the SEC. 
D) describes the internal controls a publicly traded company must maintain. 
E) prescribes the financial disclosure information that must be included in filings with the SEC. 
A) controls the listing of securities by stock exchanges. 
B) establishes requirements for nonfinancial information to be filed with the SEC. 
C) prescribes the form of financial statements to be filed with the SEC. 
D) describes the internal controls a publicly traded company must maintain. 
E) prescribes the financial disclosure information that must be included in filings with the SEC.

Question 11

When is the SEC's Registration Form S-4 used?

Accepted Answer

Registration Form S-4 is used

Question 12

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

Accepted Answer

A) S-5. 
B) S-4. 
C) S-11. 
D) S-2. 
E) S-1. 
A) S-5. 
B) S-4. 
C) S-11. 
D) S-2. 
E) S-1.

Question 13

Which one of the following was enacted in 1935?

Accepted Answer

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

Question 14

Why was the Public Utility Holding Company Act of 1935 created?

Accepted Answer

There were financial reporting abuses in

Question 15

Describe the two parts of the SEC registration statement.

Accepted Answer

Part I (the prospectus)contains extensiv

Question 16

Which one of the following requires the audit committee to be responsible for the appointment and compensation of the external auditor?

Accepted Answer

A) The Securities Act of 1933. 
B) The Securities Exchange Act of 1934. 
C) The Investment Company Act of 1940. 
D) The Foreign Corrupt Practices Act of 1977. 
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 Foreign Corrupt Practices Act of 1977. 
E) The Sarbanes-Oxley Act of 2002.

Question 17

When must a company file its Form 10-K?

Accepted Answer

A company files its

Question 18

Which information is not contained in the SEC registration statement?

Accepted Answer

A) preliminary financial statements. 
B) an explanation of the intended use of the proceeds. 
C) a description of the risks associated with the securities. 
D) a description of the business of the company. 
E) a description of the properties of the company. 
A) preliminary financial statements. 
B) an explanation of the intended use of the proceeds. 
C) a description of the risks associated with the securities. 
D) a description of the business of the company. 
E) a description of the properties of the company.

Question 19

Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?

Accepted Answer

A) The Securities Act of 1933. 
B) The Securities Exchange Act of 1934. 
C) The Investment Company Act of 1940. 
D) The Foreign Corrupt Practices Act of 1977. 
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 Foreign Corrupt Practices Act of 1977. 
E) The Sarbanes-Oxley Act of 2002.

Question 20

Information required in proxy statements includes all except which of the following?

Accepted Answer

A) listing of company directors and executive officers 
B) description of the business activities including principal products and sources and availability of raw materials. 
C) market price of the company's common stock for each quarterly period within the two most recent fiscal years 
D) five-year summary of operations including sales,total assets,income from continuing operations,and cash dividends per share 
E) two-year summary of industry segments,export sales,and foreign and domestic operations 
A) listing of company directors and executive officers 
B) description of the business activities including principal products and sources and availability of raw materials. 
C) market price of the company's common stock for each quarterly period within the two most recent fiscal years 
D) five-year summary of operations including sales,total assets,income from continuing operations,and cash dividends per share 
E) two-year summary of industry segments,export sales,and foreign and domestic operations

Overruling the FASB.

The goals of the SEC include all except which one of the following?

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

Which one of the following regulates the subsequent trading of securities through brokers and exchanges?

What is a private placement of securities?

Which one of the following forms is used in connection with registration of securities of real estate companies?

What information is required in proxy statements? (1)Five-year summary of operations; (2)Five-year summary of industry segments (3)Listing of company directors and executive officers; (4)Management discussion and analysis (MD&A).

When must Form 10-Q be filed with the SEC?

According to the text,which of the following is not exempt from registration?

Regulation S-K

When is the SEC's Registration Form S-4 used?

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

Which one of the following was enacted in 1935?

Why was the Public Utility Holding Company Act of 1935 created?

Describe the two parts of the SEC registration statement.

Which one of the following requires the audit committee to be responsible for the appointment and compensation of the external auditor?

When must a company file its Form 10-K?

Which information is not contained in the SEC registration statement?

Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?

Information required in proxy statements includes all except which of the following?

The Equity Method of Accounting for Investments

Consolidation of Financial Information

Consolidations - Subsequent to the Date of Acquisition

Consolidated Financial Statements and Outside Ownership

Consolidated Financial Statements - Intercompany Asset Transactions

Variable Interest Entities, intercompany Debt, consolidated Statement of Cash Flows, and Other Issues

Consolidated Financial Statements - Ownership Patterns and Income Taxes

Segment and Interim Reporting

Foreign Currency Transactions and Hedging Foreign Exchange Risk

Translation of Foreign Currency Financial Statements

Worldwide Accounting Diversity and International Accounting Standards

Accounting for Legal Reorganizations and Liquidations

Partnerships: Formation and Operation

Partnerships: Termination and Liquidation

Accounting for State and Local Governments, Part I

Accounting for State and Local Governments,part II

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters

Exam 12: Financial Reporting and the Securities and Exchange Commission

Overruling the FASB.

The goals of the SEC include all except which one of the following?

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

Which one of the following regulates the subsequent trading of securities through brokers and exchanges?

What is a private placement of securities?

Which one of the following forms is used in connection with registration of securities of real estate companies?

What information is required in proxy statements? (1)Five-year summary of operations; (2)Five-year summary of industry segments (3)Listing of company directors and executive officers; (4)Management discussion and analysis (MD&A).

When must Form 10-Q be filed with the SEC?

According to the text,which of the following is not exempt from registration?

Regulation S-K

When is the SEC's Registration Form S-4 used?

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

Which one of the following was enacted in 1935?

Why was the Public Utility Holding Company Act of 1935 created?

Describe the two parts of the SEC registration statement.

Which one of the following requires the audit committee to be responsible for the appointment and compensation of the external auditor?

When must a company file its Form 10-K?

Which information is not contained in the SEC registration statement?

Which one of the following requires the maintenance of accounting records and adequate internal accounting controls?

Information required in proxy statements includes all except which of the following?

The Equity Method of Accounting for Investments

Consolidation of Financial Information

Consolidations - Subsequent to the Date of Acquisition

Consolidated Financial Statements and Outside Ownership

Consolidated Financial Statements - Intercompany Asset Transactions

Variable Interest Entities, intercompany Debt, consolidated Statement of Cash Flows, and Other Issues

Consolidated Financial Statements - Ownership Patterns and Income Taxes

Segment and Interim Reporting

Foreign Currency Transactions and Hedging Foreign Exchange Risk

Translation of Foreign Currency Financial Statements

Worldwide Accounting Diversity and International Accounting Standards

Accounting for Legal Reorganizations and Liquidations

Partnerships: Formation and Operation

Partnerships: Termination and Liquidation

Accounting for State and Local Governments, Part I

Accounting for State and Local Governments,part II

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters