CPA REG UPDATED Exam Questions and CORRECT Answers

security the investor relies solely on the management of others to make money (ex: stocks, bonds, debentures, oil well interests, stock options, collateral trust certificates, warrants and limited partnership interests, and investment contracts) securities do not include certificates of deposit and general partnership interests goal of Securities Act of 1933 To assure that investors have sufficient information on which to make an informed investment decision. Requires most issuers to register new securities with SEC and provide prospectuses containing material information regarding the securities to prospective investors. SEC does not guarantee the accuracy of this info, evaluate the offering's financial merits or give assurances against loss.