Question 1

What are accredited investors?

Accepted Answer

Banks, insurance companies, an

Question 2

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.

Question 3

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

Accepted Answer

Part I is a prospectus that includes aud

Question 4

What is the primary focus of the Sarbanes-Oxley Act of 2002?

Accepted Answer

The regulation of au

Question 5

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

Accepted Answer

Registration Form S-4 is used

Question 6

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

Question 8

Which one of the following requires the registration of mutual funds that engage in investing and trading in securities?

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 9

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

Accepted Answer

There were financial reporting abuses in

Question 10

What is a wrap-around filing?

Accepted Answer

A wrap-around filing is a meth

Question 11

Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by non-affiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?

Accepted Answer

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

Question 12

Filings with the SEC are divided generally into two broad categories:

Accepted Answer

A)  Registration statements and perpetual filings. 
B)  Reconciliation statements and periodic filings. 
C)  Registration statements and periodic filings. 
D)  Registration filings and reconciliation statements. 
E)  Reconciliation filings and perpetual filings. 
A)  Registration statements and perpetual filings. 
B)  Reconciliation statements and periodic filings. 
C)  Registration statements and periodic filings. 
D)  Registration filings and reconciliation statements. 
E)  Reconciliation filings and perpetual filings.

Question 13

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 14

What is shelf registration?

Accepted Answer

A)  a procedure that allows the sale of securities to a small group of knowledgeable investors without any general solicitation. 
B)  a procedure that allows a company to register securities and then sell them over a period of two years without reregistering. 
C)  a method of filing Form 10-K with the SEC. 
D)  the registration of mutual funds that engage in investing and trading securities. 
E)  the registration of securities issued in connection with business combination transactions. 
A)  a procedure that allows the sale of securities to a small group of knowledgeable investors without any general solicitation. 
B)  a procedure that allows a company to register securities and then sell them over a period of two years without reregistering. 
C)  a method of filing Form 10-K with the SEC. 
D)  the registration of mutual funds that engage in investing and trading securities. 
E)  the registration of securities issued in connection with business combination transactions.

Question 15

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

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 16

Which one of the following registration statement forms is used by large issuers that already have at least $75 million voting stock held by non-affiliates?

Accepted Answer

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

What are accredited investors?

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

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

What is the primary focus of the Sarbanes-Oxley Act of 2002?

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

Regulation S-K:

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?

Which one of the following requires the registration of mutual funds that engage in investing and trading in securities?

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

What is a wrap-around filing?

Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by non-affiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?

Filings with the SEC are divided generally into two broad categories:

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

What is shelf registration?

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

Which one of the following registration statement forms is used by large issuers that already have at least $75 million voting stock held by non-affiliates?

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

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

Accounting for State and Local Governments

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters

Exam 12: Financial Reporting and the Securities and Exchange Commission

What are accredited investors?

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

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

What is the primary focus of the Sarbanes-Oxley Act of 2002?

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

Regulation S-K:

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?

Which one of the following requires the registration of mutual funds that engage in investing and trading in securities?

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

What is a wrap-around filing?

Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by non-affiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration?

Filings with the SEC are divided generally into two broad categories:

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

What is shelf registration?

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

Which one of the following registration statement forms is used by large issuers that already have at least $75 million voting stock held by non-affiliates?

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

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

Accounting for State and Local Governments

Accounting for Not-For-Profit Organizations

Accounting for Estates and Trusts

Filters