2023 SIE Exam Lesson 25 Sarbanes-Oxley Act Quiz

SIE Exam Lesson 25 Sarbanes-Oxley Act Quiz SIE Exam Lesson 25 Sarbanes-Oxley Act Quiz This is a SIE Exam Lesson 25 Sarbanes-Oxley Act Quiz which is the Sarbanes Oxley Act, See how you do if you need help listen to the lesson over. Questions covered include 1. The Uniform Securities Agent State Law Examination is also known as the ___. A. Series 63 Exam B. Series 64 Exam C. Series 65 Exam D. Series 66 Exam 2. Blue sky laws are federal regulations. A. True B. False 3. An offering that is exempted from federal regulation is always exempted from state regulation. A. True B. False 4. A person has registered his securities in the Securities and Exchange Commission but he wants those securities be recognized in a certain state. What kind of registration does he need to file? A. registration by coordination B. registration by filing C. registration by notification D. registration by qualification 5. Taking orders from customers in a certain state requires broker-dealers to be registered in that state. A. True B. False 6. This rule separated the conflicts of interest that were inherent between the underwriter and the research analyst. A. Prudent Man Rule B. Sarbanes-Oxley Act C. Securities Investor Protection Act D. Trust Indenture Act 7. Which of the following would a prudent man likely to do? A. buy government securities for his client B. buy naked options for his client C. buy penny stocks for his client D. short stocks in the client’s account 8. Which of the following will most likely be found in the legal list of securities that fall within the prudent man rule? (Select all that apply.) A. government securities B. highly rated corporate bonds C. highly rated municipal bonds D. 144 stocks 9. The Trust Indenture Act of 1939 requires a trust indenture for a corporate bond offering of at least ___. A. $3 million B. $4 million C. $5 million D. $6 million 10. Which of the following is true about the Investment Advisor Act of 1940? (Select all that apply.) A. It covers firms that offer wrap accounts and charge fees. B. It covers the people who charge a fee for investment advice. C. It only applies if the investment advisor gives advice to 15 or more people. D. It requires that investment advisors pass the Series 7 Examination. 11. The Securities Investor Protection Corporation protects the customer’s assets up to ___. A. $500,000 B. $600,000 C. $800,000 D. $1,000,000 12. A client has an IRA account and a regular account. Under the Securities Investor Protection Act of 1970, the client has only one account. A. True B. False 13. The Federal Telephone Consumer Protection Act prohibits unsolicited calls before 8:00 A.M. or after 9:00 P.M. of the local time of the caller. A. True B. False 14. Which of the following is true about the Do Not Call list? (Select all that apply.) A. A firm can only call the persons listed on the Do Not Call list during weekdays on office hours but not on weekends and non-office hours. B. A person listed on the Do Not Call list can bring civil law enforcement actions against the firm that calls him. C. It applies to unsolicited faxes. D. The caller must identify himself by name, firm, and where he’s coming from when calling a person on the Do Not Call list so that his call may be entertained. 15. Which of the following does the Sarbanes-Oxley Act require? A. It requires accounting firm to combine their management consultation business with their auditing business. B. It requires accounting firm to have both management consultation business and auditing business. C. It requires accounting firm to have either management consultation business or auditing business but not both. D. It requires accounting firms to separate their management consultation business from their auditing business. 16. According to the Sarbanes-Oxley Act, an accounting firm acting as auditors for the firm has to report to the ___. A.