A) The Securities Acts Amendments of 1990
B) The Market Reform Act of 1990
C) The Sarbanes-Oxley Act of 2002
D) The Securities Enforcement Remedies and Penny Stock Reform Act of 1990
E) The National Securities Markets Improvement Act of 1996
G) All of the above
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A) negligence
B) assumption of risk
C) misappropriation
D) conversion
E) fraudulent misrepresentation
G) C) and E)
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A) 20
B) 5
C) 25
D) 10
E) 50
G) A) and E)
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B) False
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A) Providee
B) Provider
C) Tipper
D) Tippee
E) There is no descriptive term for Johan because he did nothing wrong
G) B) and E)
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A) He will be able to do so only if he can establish that the purchasers would have had reasonable grounds to question the prospectus had they reviewed it with due diligence.
B) He will be able to do so if he can establish that the purchasers would have had reasonable grounds to question either the registration statement or the prospectus had they reviewed them with due diligence.
C) He will not be able to use that defense unless he can establish that he reviewed the registration statement and the prospectus,and had reasonable grounds to believe that the registration statement was accurate with no omission of material facts.
D) He will not be able to rely on that defense because he is an issuer.
E) He will be able to do so only if he can establish that the purchasers would have had reasonable grounds to question the registration statement had they reviewed it with due diligence.
G) A) and E)
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A) Providee
B) Tippee
C) Tipper
D) Provider
E) There is no descriptive term for Johan because he did nothing wrong.
G) A) and C)
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B) False
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A) Yes,but only if she has no more than 55 unaccredited investors.
B) Yes,but only if she has no more than 65 unaccredited investors.
C) Yes,the private placement exemption allows firms to issue an unlimited number of securities to an unlimited number of accredited investors.
D) Yes,but only if she has no more than 35 unaccredited investors.
E) Yes,the private placement exemption allows firms to issue an unlimited number of securities to an unlimited number of investors.
G) C) and D)
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A) That a viatical settlement investment is not an investment contract because such contracts are void as against public policy.
B) That a viatical settlement investment is not an investment contract because no significant post-purchase activity takes place in such contracts,and the expectation of profits is not therefore based solely on the efforts of the promoter or a third party.
C) That a viatical settlement investment is an investment contract because no significant post-purchase activity took place,thereby establishing the dependence of profits on the presale activities of the promoter.
D) That a viatical settlement investment is not an investment contract because profit depends entirely upon the mortality of the insured.
E) That a viatical settlement investment is an investment contract in that investors were offered and sold an investment in a common enterprise in which they were promised profits that were dependent on the efforts of the promoters.
G) B) and D)
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A) The Sarbanes-Oxley Act of 2002
B) The National Securities Markets Improvement Act of 1996
C) The Securities Acts Amendments of 1990
D) The Market Reform Act of 1990
E) The Securities Enforcement Remedies and Penny Stock Reform Act of 1990
G) A) and E)
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A) Pumping and dumping
B) Increasing and decreasing
C) Marketing and selling
D) Inflating and deflating
E) Pushing and pulling
G) A) and E)
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A) Short-term profits
B) Tippee payments
C) Insider profits
D) Bounty payments
E) Short-swing profits
G) D) and E)
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A) The private placement exemption
B) The limited exemption
C) The accredited exemption
D) The unadvertised exemption
E) There is no such exemption to registration requirements
G) A) and C)
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A) His own profits and also the profits of Johan.
B) Only his own profits and those of Aurelia.
C) Only his own profits and then only if it can be shown that he knew or should have known that the material information was not public.
D) His own profits regardless of whether he knew he was trading in information that had not been made public.
E) His own profits and also the profits of both Johan and Aurelia.
G) D) and E)
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A) Only directors are considered insiders
B) Only employees are considered insiders
C) Only directors,officers,and majority shareholders are considered insiders
D) Directors,officers,and anyone who receives private information regarding the trading of securities may be considered insiders
E) Any shareholder is considered an insider along with all directors and all employees
G) B) and C)
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B) False
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A) Marc was wrong,and there is no such document.
B) A reference statement.
C) A confirmation statement.
D) A registration statement.
E) An acknowledgement statement.
G) A) and E)
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A) The Securities Act of 1933 is a federal act regulating securities transactions,but the Securities Exchange Act of 1934 and the Anti-Fraud Securities Act of 2001 are not.
B) The Securities Act of 1933,the Securities Exchange Act of 1934,and the Anti-Fraud Securities Act of 2001 are all federal acts regulating securities transactions.
C) The Anti-Fraud Securities Act of 2001 and the Securities Act of 1933 are federal acts regulating securities transactions,but the Securities Exchange Act of 1934 is not.
D) The Anti-Fraud Securities Act of 2001 and the Securities Exchange Act of 1934 are federal acts regulating securities transactions,but the Securities Act of 1933 is not.
E) The Securities Exchange Act of 1934 and the Securities Act of 1933 are federal acts regulating securities transactions,but the Anti-Fraud Securities Act of 2001 is not.
G) B) and E)
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A) No,under the private placement exemption,while issuers do not have to register securities with the SEC,issuers must notify the SEC of any sales made under the exemption.
B) No,under the private placement exemption,issuers must register securities with the SEC and notify the SEC of any sales made under the exemption.
C) Yes,under the private placement exemption,issuers do not have to register securities with the SEC.
D) Yes,under the private placement exemption,issuers are permitted,but not required,to notify the SEC of any sales made under the exemption.
E) No,under the private placement exemption,issuers must either register securities with the SEC or notify the SEC of any sales made under the exemption.
G) C) and D)
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