LSB EXAM 4 GUARANTEED SUCCESS - Security transactions that involve the original issuance and reissuance of securities by a business to
raise capital are referred to as the ️primary market. - A company is considered to "go public" when it sells its voting ️common shares for the first time to
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LSB EXAM 4 GUARANTEED SUCCESS
- Security transactions that involve the original issuance and reissuance of securities by a business to
raise capital are referred to as the ✔️primary market.
- A company is considered to "go public" when it sells its voting ✔️common shares for the first time to
outside investors using public markets like the New York Stock Exchange.
- The federal laws, regulations, and exemptions that govern the primary market are found in the
Securities Act of ✔️1933.
- ✔️Individual investors hold securities directly or through a brokerage firm, while ✔️institutional
investors hold securities through pension funds and mutual funds.
- The most common type of ✔️intermediaries are brokerage firms, known as broker-dealers, that buy
and sell securities for clients.
- A public outcry and diminishing investor confidence in corporate financial disclosures prompted
Congress to reform the entire corporate governance regulatory framework by enacting the
✔️Sarbanes-Oxley Act of 2002.
- The public reaction to the Enron scandal and declining public trust in the oversight of financial fraud
led ✔️Congress to pass several laws aimed at improving the quality of financial disclosures by public
corporations.
- Under the Sarbanes-Oxley Act, the requirement for the repayment of corporate bonuses awarded
based on misleading disclosures is referred to as a ✔️clawback provision.
- The Sarbanes-Oxley Act aims to enhance ✔️auditor independence.
- The loan program established by the American Recovery and Reinvestment Act of 2009 created the
✔️Troubled Asset Relief Program to administer the loans.
, - A common form of agency is a(n) ✔️employer-employee relationship.
- If Juan hires ABC Painting, Inc. to paint his house, but the house is destroyed by a lightning strike
before ABC begins to work, the agency relationship between Juan and ABC is terminated by
✔️operation of law.
- To determine whether the parties have indeed indicated an offer of agency and acceptance by the
agent, courts apply a(n) ✔️objective standard.
- An agent labeled as a(n) ✔️independent contractor is not regarded as an employee and lacks the legal
protections afforded to employees, such as minimum wage and overtime laws.
- Suppose Jeff and Douglas are college roommates who both decide to do their laundry at the dormitory
facility on Tuesday evening. Since Jeff needs to study for a biology exam, he asks Doug to pick up his
laundry as a favor, and Doug agrees. In this scenario, Doug is ✔️Jeff's gratuitous agent.
- The Fair Labor Standards Act (FLSA) cannot be properly understood without considering two significant
historical events that occurred in the early twentieth century: the ✔️Industrial Revolution and the
Great Depression.
- Morris is a nonexempt employee earning a salary of $400 a week for a 40-hour workweek. If he works
50 hours in one week, his paycheck should total ✔️$550.
- Laws that provide compensation for employees with job-related injuries or illnesses are known as
✔️worker's compensation, and benefits are paid based on a percentage of the employee's salary at the
time of the incident.
- An injured worker is not eligible for workers' compensation if the injury was self-inflicted or resulted
from certain behaviors, except in the case of ✔️the employee's track record of attendance.
- The most common type of ✔️intermediaries are brokerage firms, also known as broker-dealers, that
conduct buy and sell transactions for clients.
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