True or False

_______5. The SEC does not regulate the content of proxy statements.

_______6. Generally state securities laws apply to intrastate transactions.

_______ 7. The SEC interprets federal securities laws but does not investigate violations.

_______8. The Federal Trade Commission is an example of an independent administrative agency.

_______9. In the informal rule making process, there is no opportunity for public comment.

_______10. After a ruling by an administrative agency, an appeals court undertakes new fact finding before deciding upon the appeal.

________11. Both houses of Congress, the House of Representatives and the Senate must approve the Presidents nomination of an administrative agency head.