9. Regulation S-X presents the rules for preparing all of the following except: 

1. The Securities and Exchange Commission is responsible for:

A. Option A
B. Option B
C. Option C
D. Option D

2. Which regulation created the Securities and Exchange Commission?
A. Securities Act of 1933
B. Securities Exchange Act of 1934
C. Investment Company Act of 1940
D. Garn-St. Germain Depository Institutions Act of 1982

3. Which system helps the SEC accomplish its primary purpose of increasing the efficiency and fairness of the securities markets by expediting the receipt, acceptance, dissemination, and analysis of time-sensitive data filed with it?
A. EDI
B. ESEC
C. EDGAR
D. EMMA

4. Which of the following divisions of the SEC regulates national securities exchanges, brokers, and dealers of securities?
A. Division of Investment Management
B. Division of Corporation Finance
C. Division of Corporation Regulation
D. Division of Market Regulation

5. Which division of the SEC develops and administers the disclosure requirements for the securities acts and reviews all registration statements and other issue-oriented disclosures?
A. Division of Enforcement
B. Division of Corporation Finance
C. Division of Investment Management
D. Division of Market Regulation

6. Identify the regulation that created an entity which insures investors from possible losses if an investment house enters bankruptcy.
A. Federal Deposit Insurance Protection Act
B. Securities Investor Protection Act
C. Investment Advisers Act
D. Federal Bankruptcy Acts

7. Regulation S-X and Regulation S-K:
A. govern the preparation of financial statements and associated disclosures.
B. govern the registration requirements for private placements.
C. outline responsibilities for audit committees of publicly held companies.
D. prohibit artificial pyramids of capital in public utilities.

8. Which regulation resulted in the creation of the Public Company Accounting Oversight Board?
A. Investment Advisers Act
B. Securities Investor Protection Act
C. Sarbanes-Oxley Act
D. Trust Indenture Act

9. Regulation S-X presents the rules for preparing all of the following except:
A. financial statements.
B. footnotes.
C. auditor’s report.
D. management’s discussion.

10. The preparation of which of the following items is covered by Regulation S-K?
A. Descriptions of business
B. Pro forma disclosures
C. Schedules
D. Reports of accountants

11. Which of the following presents the results of actions taken against accountants, brokers, and other participants for filing false or misleading statements?
A. Financial Reporting Releases
B. Financial Reporting Interpretations
C. Accounting and Auditing Enforcement Releases
D. Staff Accounting Bulletins

12. Which of the following covers new or revised administrative practices and interpretations used by the SEC staff in reviewing financial statements?
A. Securities Exchange Act releases
B. Exchange Act industry guides
C. Accounting and Auditing Enforcement Releases
D. Staff Accounting Bulletins

13. In the issuer’s annual report, how many years of audited financial statements must be presented?
I. Three years of audited income statements
II. Two years of audited balance sheets
III. Three years of audited statements of cash flows
A. I and II
B. II and III
C. I and III
D. I, II, and III

14. Which of the following types of securities or securities transactions are exempt from the need to be registered under the Securities Act of 1933?
I. Commercial paper with a maturity of nine months or less.
II. Intrastate issues in which the securities are offered and sold only within one state.
III. Securities exchanged by an issuer exclusively with its existing shareholders with no commission charged.
A. I and II
B. II
C. I, II, and III
D. III

15. Regulation D of the SEC presents important exemptions from full registration requirements for:
A. private placements.
B. issuances of securities by savings and loan associations.
C. issuances of securities by common carriers regulated by the Interstate Commerce Commission.
D. foreign companies.

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