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An insurance policy is exempt from registration under the 1933 Act

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An insurance policy is exempt from registration under the 1933 Act. Group of answer choices True False Flag question: Question 22 Question 220.4 pts Securities Act Rule 506 requires an issuer to sell to no more than 35 accredited investors. Group of answer choices True False Flag question: Question 23 Question 230.4 pts The ultimate purpose of the 1934 Act is to keep investors fully informed to allow them to make intelligent investment decisions at any time. Group of answer choices True False Flag question: Question 24 Question 240.4 pts The Securities and Exchange Commission (SEC) was created by the Securities Exchange Act of 1934. Group of answer choices True False Flag question: Question 25 Question 250.4 pts Which of the following instruments is NOT considered as security? Group of answer choices Treasury stock Certificate of interest Investment contract Mortgage notes Flag question: Question 26 Question 260.4 pts The 1933 Act has two principal regulatory components: Group of answer choices (1) rescission provisions and (2) contract provisions. (1) registration provisions and (2) liability provisions. (1) distribution provisions and (2) privacy provisions. (1) revenue provisions and (2) retirement provisions. Flag question: Question 27 Question 270.4 pts The U.S. Supreme Court has held that the Howey test does apply to a fixed rate of return leaseback and management agreement. Group of answer choices True False Flag question: Question 28 Question 280.4 pts Under the Securities Act of 1933, the registration of securities which are offered to the public in interstate commerce is: Group of answer choices mandatory unless the cost to the issuer is “prohibitive” as defined in the SEC regulations. directed toward minimizing investor exposure to financially risky securities. not required unless the issuer is a corporation. required unless the offering or the securities are exempt from registration. Flag question: Question 29 Question 290.4 pts A security is generally defined by the courts as Group of answer choices an investment of charity work in a social enterprise with an expectation of helping others through the efforts of a community. an investment of money in a common enterprise with an expectation of profits solely from the efforts of others. an investment of time in a unique enterprise with an expectation of profits solely from the efforts of self. an investment of work in a unique enterprise with an expectation of breaking even solely from the efforts of self. Flag question: Question 30 Question 300.4 pts The do-not-call registry is unconstitutional because it discriminates and does not apply to charitable and political callers. Group of answer choices True False Flag question: Question 31 Question 310.4 pts Section 5 of the FTC Act normally is not violated by statements of opinion, sales talk, or “puffing,” statements about matters that consumers can easily evaluate for themselves, and statements regarding subjective matters such as taste or smell. Group of answer choices True False Flag question: Question 32 Question 320.4 pts The Federal Trade Commission recently instituted an adjudicative proceeding against OK Corp., a manufacturer of paisley cloth dolls. OK is alleged to have made deceptive statements concerning the quality of its product in nationwide advertisements. Which of the following statements is accurate? Group of answer choices OK may be held to have engaged in deceptive advertising even if all company employees and executives involved in advertising decisions believed in good faith that false statements in the ads were true. OK cannot be held to have engaged in deceptive advertising if no consumers have actually been deceived by the OK ads. If the statements in the OK ads were material misrepresentation that could mislead reasonable consumers, the FTC’s deception standard would require a conclusion that OK did engage in deceptive advertising. If the FTC proves that the intent in OK advertisements was to offend reasonable consumers, then an administrative law judge could order OK to cease making such an advertising claim. Flag question: Question 33 Question 330.4 pts The Telemarketing Sales Rule makes it an abusive practice for a telemarketer to call a person's residence at any time other than between Group of answer choices 9:00 AM and 8:00 PM 7:30 AM and 8:30 PM Monday and Friday 8:00 AM and 9:00 PM Flag question: Question 34 Question 340.4 pts Which of the following acts is most likely to violate the Telemarketing Sales Rule (TSR)? Group of answer choices Soliciting sales through the mailing of a catalog and then receiving customers’ orders by telephone. Making telephone calls of solicitation to a consumer but completing the transaction in a faceto-face meeting. Calling a consumer’s residence at 10:30 PM to inform about an exciting prize promotion. Making telephone calls to a customer to get an appointment for a face-to-face sales presentation. Flag question: Question 35 Question 350.4 pts In response to the Telemarketing Sales Rule (TSR), affected commercial telemarketers initiated litigation brought on lack-of-statutory authority and: Group of answer choices Fourth Amendment grounds. Fifth Amendment grounds. Seventh Amendment grounds. First Amendment grounds. Flag question: Question 36 Question 360.4 pts The district court does not have authority to award consumer redress - money judgment under the FTC Act. Group of answer choices True False Flag question: Question 37 Question 370.4 pts Where a company has been found liable for deceptive advertising under section 5 of the FTC Act, a court may enforce the FTC's fencing in orders if the deception was Group of answer choices ambiguous. causing the average consumer to purchase the product, and the company was liable for deception on its other products serious, deliberate, and easily transferable to other products sold by the company unreasonable, caused consumers to be confused, and the company offers other products in the same advertising medium as the deceptive advertisement generally misleading, caused consumers to purchase the product, even if the company's other products are wholly unrelated to the deception Flag question: Question 38 Question 380.4 pts Suppose Kenny is insolvent. Before filing for bankruptcy he sells his $40,000 brand new car to his mom for $1 to intentionally prevent creditors from claiming the car. Kenny files Chapter 7 Bankruptcy on October 15, 2018. This fraudulent transfer could be declared void by a trustee under the U.S. Bankruptcy Code, if the transfer was made within _________ before filing a bankruptcy petition. Group of answer choices 90 days two years 60 days 180 days Flag question: Question 39 Question 390.4 pts Debtor can’t have favored creditors to the detriment of other creditors. A preferential payment is a payment made by the insolvent debtor within a specified time before filing bankruptcy. For example, suppose debtor owes $700 to a bank, and $700 to his friend Jolina; and debtor only pays the $700 debt to his friend Jolina, and then files for bankruptcy. The Trustee can get the $700 back from Jolina to place in the Bankruptcy estate if the preferential payment to Jolina was made within __________ before Debtor filing bankruptcy. Group of answer choices 20 days 30 days 200 days 90 days Flag question: Question 40 Question 400.4 pts In a Chapter 7 liquidation proceeding, the claims of creditors are paid in which of the following order? Group of answer choices The claims of secured creditors are satisfied first, followed by priority claims, and lastly claims made by unsecured creditors. Priority claims take precedence over claims made by secured and unsecured creditors. The claims of secured creditors are satisfied first, followed by unsecured creditors, and lastly priority claims. Older claims are given priority over more recent claims.