Question

1. Insiders must file a statement of the amount of such issues of which they are the owners:

a. only after 10 days of becoming an insider

b. only at the time of the registration

c. only after 30 days of becoming an insider

d. at the time of the registration or within 10 days after becoming an insider

e. within 5 days of becoming an insider

2. The members of the Public Company Accounting Oversight Board are appointed by the ___________.

a. auditors of companies

b. insider trading and securities fraud enforcement act commissioners

c. Securities and Exchange Commission Commissioners

d. CEOs of companies

e. chairman of the Private Securities Litigation Reform Act

3. Which of the following is true about a tippee?

a. a tippee is a director or an officer of the issuer of the security

b. a tippee is liable for trading or passing on information that is nonpublic

c. a tippee owns more than 10% of any security

d. a tippee sells securities for the company of by guaranteeing thier sale

e. a tippee is not liable for the use of nonpublic information

4. Which of the following acts controls executive compensation and corporate governance?

a. Dodd-Frank Wall Street Reform and Consumer Protection Act

b. Equal Employment Oppurtunity Act

c. Social Security Act

d. Employment Retirement Income Security Act

e. Sarbanes-Oxley Act of 2002

Answer 1

1. Insiders must file a statement of the amount of such issues of which they are the owners:
a. only after 10 days of becoming an insider
b. only at the time of the registration
c. only after 30 days of becoming an insider
d. at the time of the registration or within 10 days after becoming an insider	Correct	Insider is already registered under Section 12, the insider must file a Form 3 within ten days of becoming an officer, director, or beneficial owner.
e. within 5 days of becoming an insider
2. The members of the Public Company Accounting Oversight Board are appointed by the ___________.
a. auditors of companies
b. insider trading and securities fraud enforcement act commissioners
c. Securities and Exchange Commission Commissioners	Correct	Public Company Accounting Oversight Board is responsible for providing oversight for auditors of public companies  appointed and overseen by he Securities and Exchange Commission.
d. CEOs of companies
e. chairman of the Private Securities Litigation Reform Act
3. Which of the following is true about a tippee?
a. a tippee is a director or an officer of the issuer of the security
b. a tippee is liable for trading or passing on information that is nonpublic	Correct	Tippee is liable for insider trading .
c. a tippee owns more than 10% of any security
d. a tippee sells securities for the company of by guaranteeing thier sale
e. a tippee is not liable for the use of nonpublic information
4. Which of the following acts controls executive compensation and corporate governance?
a. Dodd-Frank Wall Street Reform and Consumer Protection Act	Correct	Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 controls executive compensation and corporate governance
b. Equal Employment Oppurtunity Act
c. Social Security Act
d. Employment Retirement Income Security Act
e. Sarbanes-Oxley Act of 2002