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


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

F) A) and B)
G) D) and E)

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


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.

F) C) and D)
G) A) and B)

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

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Part I is a prospectus that includes aud...

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Which one of the following forms is used when no other form is prescribed?


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

F) B) and C)
G) A) and E)

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Which one of the following is not a characteristic of the Public Company Accounting Oversight Board?


A) Minimizes self-regulation in the accounting profession.
B) Has the authority to amend, modify, repeal, or reject any audit standard of the ASB.
C) Only one member can be an accountant, past or present.
D) SEC has oversight and enforcement authority over the Board.
E) Enforces auditing, quality control, and independence standards and rules.

F) B) and D)
G) A) and B)

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What information needs to be included in Form 10-Q? 1) Income statements for the most recent quarter and for the year to date as well as for the comparative periods in the previous year. 2) Income statements for the most recent quarter and for the year to date as well as for the comparative periods in the previous two years. 3) A statement of cash flows is mandatory, but only for the year to date as well as for the corresponding period in the preceding year. 4) Two balance sheets: one for the end of the most recent quarter and one showing the company's financial position at the end of the previous fiscal year.


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

F) A) and B)
G) A) and C)

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What is required by the Trust Indenture Act of 1939?

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The Trust Indenture Act of 193...

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What is a private placement of securities?

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A private placement of securit...

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What was the purpose of the Securities Act of 1933?

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The purpose of the Securities ...

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A letter of comments would be issued by the SEC


A) to request clarification of a registration statement.
B) to convey your pertinent comments to the SEC.
C) in response to a company's filing of Form 8-K.
D) after receiving the company's Form 10-K.
E) to indicate that a registration statement has been approved.

F) B) and C)
G) D) and E)

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How has the Sarbanes-Oxley Act of 2002 changed the role of the audit committee?

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The audit committee is now responsible f...

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The audit committee of an entity subject to SEC regulation will do all of the following except:


A) be responsible for agreeing to fee compensation of the independent audit firm.
B) sign certification of the annual financial statements.
C) be comprised only of individuals who are not members of management.
D) approve nonaudit services provided by the independent audit firm.
E) serve as liaison between the board of directors and the independent audit firm.

F) A) and B)
G) A) and C)

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What is private placement of securities?


A) A procedure that allows a company to register securities and then sell them over a period of two years without reregistering.
B) A procedure that allows the sale of securities to a small group of sophisticated knowledgeable investors, without any general solicitation.
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) A sale of securities to 35 or fewer accredited investors.

F) C) and D)
G) D) and E)

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


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.

F) A) and B)
G) A) and C)

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How has the SEC exercised its power with regard to the continuing evolution of accounting principles? 1) Issuing Financial Reporting Releases (FRRs) . 2) Requiring additional disclosures in notes to financial statements. 3) Declaring a moratorium on the use of specified accounting practices. 4) Overruling the FASB.


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

F) A) and B)
G) A) and C)

Correct Answer

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What is Form 10-K?


A) A quarterly report filed with the SEC.
B) An annual report filed with the SEC.
C) A semiannual report filed with the SEC.
D) A form filed with the SEC before the company issues stock for the first time.
E) A form filed with the SEC before issuing stocks to acquire another company.

F) D) and E)
G) A) and B)

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Which one of the following is not a prescribed event for the filing of Form 8-K?


A) Bankruptcy or receivership.
B) Changes in control of the registrant.
C) Resignation of a middle manager.
D) Changes in the registrant's independent auditor.
E) Acquisitions or dispositions of assets.

F) B) and D)
G) A) and E)

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

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Registration Form S-4 is used ...

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For each of the following situations, select the best answer concerning information forms filed with the SEC: For each of the following situations, select the best answer concerning information forms filed with the SEC:

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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?


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

F) A) and B)
G) A) and C)

Correct Answer

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