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Question 1 of 10
1. Question
A reduction of the commission paid to the underwriter or selling agent may be accomplished by which of the following where the price of the securities is not changed?
Correct
a sticker can be used for the reduction of the commission paid to the underwriter or selling agent
Incorrect
a sticker can be used for the reduction of the commission paid to the underwriter or selling agent
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Question 2 of 10
2. Question
SEC Rule 415 typically is not applicable to the continuous offering of the underlying common stock because that offering is exempt from which of the following?
Correct
the continuous offering of the underlying common stock is exempt from registration
Incorrect
the continuous offering of the underlying common stock is exempt from registration
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Question 3 of 10
3. Question
For shelf registration of which of the following to be issued in series, a prospectus supplement filed under Rule 424 may be used to set forth?
Correct
a prospectus supplement filed under Rule 424 could be used preferred stock’s shelf registration
Incorrect
a prospectus supplement filed under Rule 424 could be used preferred stock’s shelf registration
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Question 4 of 10
4. Question
Which of the following filed as part of a registration statement covering a “delayed/continuous” offering of medium-term notes, i.e., a continuous offering not commencing promptly after effectiveness generally will contain only a generic description of the security terms?
Correct
a delayed/continuous prospectus for a registration statement will contain only a generic description of the security terms.
Incorrect
a delayed/continuous prospectus for a registration statement will contain only a generic description of the security terms.
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Question 5 of 10
5. Question
As per Rule 415 offering purchasers within how many numbers of days will receive security with a higher yield than that to be received by subsequent purchasers?
Correct
To receive security with a higher yield the purchase need to be made within the first 60 days
Incorrect
To receive security with a higher yield the purchase need to be made within the first 60 days
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Question 6 of 10
6. Question
Where there is a sale of a block of shelf-registered securities directly by the issuer to which of the following person the securities will not be deemed to be “restricted securities” that are “acquired directly or indirectly from the issuer in a transaction not involving any public offering”?
Correct
sale to the institutional purchaser of a block of shelf-registered securities will not be deemed to be “restricted securities” through a public offering
Incorrect
sale to the institutional purchaser of a block of shelf-registered securities will not be deemed to be “restricted securities” through a public offering
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Question 7 of 10
7. Question
Which of the following is used for a continuous offering under Rule 415? A post-effective amendment is necessary to meet the requirements of Section 10(a)(3), to reflect fundamental changes, or to disclose material changes in the plan of distribution. Other changes may be made by stickers.
Correct
a post-effective amendment is necessary to meet the requirements of Section 10(a)(3) when Form S-1 or Form S-2 is filed.
Incorrect
a post-effective amendment is necessary to meet the requirements of Section 10(a)(3) when Form S-1 or Form S-2 is filed.
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Question 8 of 10
8. Question
It is important to identify whether a purported secondary offering is really a primary offering, i.e., the selling shareholders are actually which of the following selling on behalf of an issuer. Underwriter status may involve additional disclosure, including an acknowledgment of the seller’s prospectus delivery requirements?
Correct
underwriters identification is necessary as it may involve additional disclosures for the offering of securities.
Incorrect
underwriters identification is necessary as it may involve additional disclosures for the offering of securities.
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Question 9 of 10
9. Question
Spread means a which of the following position in different call option series, different put option series, or a combination of call and put option series, that collectively have a limited risk/reward profile?
Correct
“long” and “short” positions in different call option series are used for the Spread term.
Incorrect
“long” and “short” positions in different call option series are used for the Spread term.
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Question 10 of 10
10. Question
The term “interest rate measure” represents, in the case of short term U.S. Treasury bills, which of the following of a specific issue multiplied by 10 or in the case of the long term U.S. Treasury notes and bonds, the average of the yield to maturity of the specific multiplied by ten?
Correct
Annual discount yield is used for interest rate measure for short term U.S. treasury bills.
Incorrect
Annual discount yield is used for interest rate measure for short term U.S. treasury bills.