Question 1
Which of the following acts requires publicly traded corporations to issue annual reports?
A) Investment Company Act of 1940.
B) Securities Act of 1933.
C) Securities Exchange Act of 1934.
D) Trust Indenture Act of 1939.
CORRECT ANSWER
(C) Securities Exchange Act of 1934.
The Securities Exchange Act of 1934 mandates that public issuers file annual and
quarterly reports with the SEC.
Question 2
Under the Securities Act of 1933, a registration statement for a security generally becomes
effective how many days after it is filed?
A) 30 days.
B) 31 days.
C) 20 days.
D) 10 days.
CORRECT ANSWER
(C) 20 days.
1
@https://www.stuvia.com/user/thestudyvault
, A registration statement for a security becomes effective 20 days after it is filed, unless
the SEC orders a delay.
Question 3
The first of the federal securities acts was the Securities Act of 1933. This act requires
persons selling a new offering to their clients to:
A) deliver a copy of the registration statement no later than with confirmation of the sale.
B) be properly registered prior to making the offer.
C) deliver a preliminary (red herring) prospectus prior to the sale.
D) deliver an effective (final) prospectus no later than with confirmation of the sale.
CORRECT ANSWER
(D) deliver an effective (final) prospectus no later than with confirmation of the sale.
The Securities Act of 1933, sometimes referred to as the "paper act", requires that an
effective, or final prospectus be delivered to all purchasers of a new offering no later
than with confirmation of the sale. It is not required that purchasers receive a red herring
prospectus and only the SEC gets copies of the registration statement. Yes, they must be
properly registered to make the offer (and sale), but that comes under the "people act",
the Securities Exchange Act of 1934.
Question 4
In order to come under the SEC's requirement to file a Form 13F, an institutional manager
must have discretion over:
A) a portfolio of at least $100 million.
B) a portfolio of at least $50 million.
2
@https://www.stuvia.com/user/thestudyvault
Which of the following acts requires publicly traded corporations to issue annual reports?
A) Investment Company Act of 1940.
B) Securities Act of 1933.
C) Securities Exchange Act of 1934.
D) Trust Indenture Act of 1939.
CORRECT ANSWER
(C) Securities Exchange Act of 1934.
The Securities Exchange Act of 1934 mandates that public issuers file annual and
quarterly reports with the SEC.
Question 2
Under the Securities Act of 1933, a registration statement for a security generally becomes
effective how many days after it is filed?
A) 30 days.
B) 31 days.
C) 20 days.
D) 10 days.
CORRECT ANSWER
(C) 20 days.
1
@https://www.stuvia.com/user/thestudyvault
, A registration statement for a security becomes effective 20 days after it is filed, unless
the SEC orders a delay.
Question 3
The first of the federal securities acts was the Securities Act of 1933. This act requires
persons selling a new offering to their clients to:
A) deliver a copy of the registration statement no later than with confirmation of the sale.
B) be properly registered prior to making the offer.
C) deliver a preliminary (red herring) prospectus prior to the sale.
D) deliver an effective (final) prospectus no later than with confirmation of the sale.
CORRECT ANSWER
(D) deliver an effective (final) prospectus no later than with confirmation of the sale.
The Securities Act of 1933, sometimes referred to as the "paper act", requires that an
effective, or final prospectus be delivered to all purchasers of a new offering no later
than with confirmation of the sale. It is not required that purchasers receive a red herring
prospectus and only the SEC gets copies of the registration statement. Yes, they must be
properly registered to make the offer (and sale), but that comes under the "people act",
the Securities Exchange Act of 1934.
Question 4
In order to come under the SEC's requirement to file a Form 13F, an institutional manager
must have discretion over:
A) a portfolio of at least $100 million.
B) a portfolio of at least $50 million.
2
@https://www.stuvia.com/user/thestudyvault
