Multiple Choice$$Securities Laws and SEC Functions$$

These questions involve the federal securities laws and the organization, structure, and authority of the SEC.$$

Required$$

a$.$ Which of the following are not requirements imposed by the Securities Exchange Act of $1934$ and its amendments?$$

Proxy solicitation requirements.

Prospectus requirements.

Insider trading requirements.

Accounting, recordkeeping, and internal control requirements.

b$.$ Which of the following laws requires companies to maintain accurate accounting records and a system of effective internal accounting controls?$$

Securities Exchange Act of $1934$

Securities Investor Protection Act of $1970$

Sarbanes$-$Oxley Act of $2002$

Dodd$-$Frank Act of $2010$

c$.$ Which of the following is not a purpose of the Securities Exchange Act of $1934?$

To establish federal regulation over securities exchanges and markets.

To prevent unfair practices on securities exchanges and markets.

To discourage and prevent the use of credit in financing excessive speculation in securities$.$

To approve the securities of corporations that are to be traded publicly.

d$.$ Which of the following categories is not registered by the SEC?$$

Securities brokers who deal in over$-$the$-$counter markets.

Securities brokers who deal only in interstate markets.

Public accounting firms.

Securities exchanges.