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Question 1 of 10
1. Question
It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange:
Correct
To employ any device, scheme, or artifice to defraud, to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading,
Incorrect
To employ any device, scheme, or artifice to defraud, to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading,
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Question 2 of 10
2. Question
A purchase or sale of a security of an issuer is “on the basis of” which of the following non-public information about that security or issuer if the person making the purchase or sale was aware of the material nonpublic information when the person made the purchase or sale?
Correct
“On the Basis of” involves material nonpublic information about that security or issuer
Incorrect
“On the Basis of” involves material nonpublic information about that security or issuer
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Question 3 of 10
3. Question
A broker-dealer would not be able to obtain the issuer information required by the Rule until the debtor’s reorganization plan becomes effective, and the debtor files a which of the following, which instead of attaching the Rule 2015 bankruptcy reports, now includes the issuer’s audited balance sheet?
Correct
Form 8-K is filed by a debtor which includes the issuer’s audited balance sheet as per rule 2015 bankruptcy reports.
Incorrect
Form 8-K is filed by a debtor which includes the issuer’s audited balance sheet as per rule 2015 bankruptcy reports.
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Question 4 of 10
4. Question
Broker-dealers could review the debtor’s 8-K form, which contains an issuer’s audited balance sheet, and then publish which of the following From then on, the issuer must file its Exchange Act periodic reports for all periods that begin after the plan becomes effective?
Correct
The 8-K form contains an issuer’s audited balance sheet and then publish priced quotations
Incorrect
The 8-K form contains an issuer’s audited balance sheet and then publish priced quotations
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Question 5 of 10
5. Question
The publication of quotations by a broker-dealer indicates that which of the following exists for the issuer’s securities?
Correct
a market exists for the securities when a Broker public the quotations
Incorrect
a market exists for the securities when a Broker public the quotations
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Question 6 of 10
6. Question
To qualify for the which of the following, the issuer must furnish to the Commission information that the issuer has made or is required to make public under the law of the country in which the foreign private issuer is domiciled or incorporated?
Correct
the information has been made or is required to make public under the law of the country in which the foreign private issuer is domiciled or incorporated to qualify for a registration exemption
Incorrect
the information has been made or is required to make public under the law of the country in which the foreign private issuer is domiciled or incorporated to qualify for a registration exemption
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Question 7 of 10
7. Question
For foreign private issuers that do not furnish which of the following with information under Rule 12g3-2(b), the Rule currently requires broker-dealers to obtain and review the same kind of information, including financial information, as required for non-reporting domestic issuers?
Correct
In case of no information is furnished to the Commission as allowed under Rule 12g3-2(b), the Broker has the responsibility to review the same
Incorrect
In case of no information is furnished to the Commission as allowed under Rule 12g3-2(b), the Broker has the responsibility to review the same
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Question 8 of 10
8. Question
Securities Exchange Act of 1934′ requires which of the following of owners, directors, and officers of a company to disgorge “any profit realized?
Correct
ten percent of profit realized need to disgorge under the Securities Exchange Act of 1934
Incorrect
ten percent of profit realized need to disgorge under the Securities Exchange Act of 1934
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Question 9 of 10
9. Question
Which of the following represents the culmination of more than a two-year effort by the SEC to review and modernize the trading practice rules, which had been in effect for over 40 years?
Correct
the culmination of more than a two-year effort by the SEC to review and modernize the trading practice rules is covered under Regulation M
Incorrect
the culmination of more than a two-year effort by the SEC to review and modernize the trading practice rules is covered under Regulation M
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Question 10 of 10
10. Question
Particular concern has been directed at the effect of the trading practice rules on which of the following? Because foreign markets generally do not have comparable rules, and because the trading practice rules are deemed to apply to foreign distributions that occur only in part in the U.S.
Correct
international offerings rules have recently been given a lot of attention due to the difficulty of comparison and occur in some parts of the U.S.
Incorrect
international offerings rules have recently been given a lot of attention due to the difficulty of comparison and occur in some parts of the U.S.