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Regulation- Series 7 Exam With Complete Solutions Latest Update
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Regulation- Series 7 Exam With Complete Solutions Latest Update...
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Regulation- Series 7 Exam With CompleteSolutions Latest Update
Exempted issuers are defined under the: - ANSWER -Securities Act of 1933
Which of the following securities are exempt from the registration provisions of the
Securities Act of 1933? - ANSWER -U.S. Government issues
-U.S. Government agency issues
-General Obligation Bonds
-Industrial Revenue Bonds
U.S. Government agency securities: - ANSWER -are exempt securities under the
Securities Act of 1933
Banker's Acceptances are: - ANSWER -money market instruments exempt from the
Securities Act of 1933
Which of the following statements is TRUE with respect to Banker's Acceptances? -
ANSWER -Banker's Acceptances can be sold without a prospectus
Commercial Paper is a: - ANSWER -money market instrument that is exempt from the
Securities Act of 1933
The following types of securities are EXEMPT from registration pursuant to the
Securities Act of 1933: - ANSWER -Insurance company issues
,-Bank issues
-Savings and loan issues
-Common carrier issues
Which of the following are exempt issues under the Securities Act of 1933?
-ANSWER-Government Bonds
-Municipal Bonds
-State Chartered Bank Issues
-Small Business Investment Companies
Which of the following are exempt issues under the Securities Act of 1933
-ANSWER-Savings and Loan Issues
-U.S. Government Bonds
Which of the following is an exempt issue? -ANSWER-Fixed annuity contract
Which of the following are non-exempt issues under the Securities Act of 1933? -
ANSWER -Variable annuity contracts
-Listed option contracts
-Listed common stock
Which of the following are non-exempt securities under the Securities Act of 1933? -
ANSWER -Commercial Paper maturing over 270 days
,-Variable Annuity Contracts
Which of the following securities are EXEMPT from the registration requirements of the
Securities Act of 1933? - ANSWER -Eurodollar Debt
-Foreign Government Debt
-Municipal Debt
Which one of the following securities is NOT exempt under the Securities Act of 1933? -
ANSWER -Industrial Company issues
Which one of the following activities are permitted before a registration statement is
filed? - ANSWER -None of the above
Which of the following statements ARE TRUE regarding the use of a "red herring"
preliminary prospectus? - ANSWER -A preliminary prospectus may be delivered to a
prospective customer once the issue has entered into the 20 day cooling off period
-The use of the preliminary prospectus does not constitute an offer to sell under the
Securities Act of 1933
Which of the following are TRUE concerning indications of interest received during the
"cooling off" period for a registered initial public offering? - ANSWER -The indication is
not binding on the customer
-The indication is not binding on the underwriter
Which of the following may NOT be done during the "cooling off" period? - ANSWER
-Sale of the issue to the public
, -Distribution of an advertisement
Which of the following are permitted to occur after the registration statement is filed? -
ANSWER -Solicitation of indications of interest for the issue in registration
Sending a preliminary prospectus to a customer about the issue in registration
Publishing a tombstone announcement for the issue in registration
Contrasting with the above question, all of the following activities are prohibited during
the "cooling off" period EXCEPT: - ANSWER -receiving an indication of interest from the
customer for part of the issue
A registered representative has prepared a research report about a new issue that is
"in registration." Which of the following statements is TRUE? - ANSWER -The research
report may not be sent
If the SEC writes the issuer a deficiency letter concerning an issue in registration,: -
ANSWER -disclosure is not adequate
Which of the following are true during the period a non-exempt new issue is "in
registration"? - ANSWER -No advertising or sale of the issue is permitted
-The SEC may issue a deficiency letter requesting additional information before allowing
registration to become "effective"
Due Diligence - offering participants conduct due diligence on the offering
The following statements are correct about a period when a non-exempt new issue is "in
registration" EXCEPT: - ANSWER - Preliminary prospectus with the final public offering
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