Electoral Process
Issuing Securities
Insider Trading
Registration Statements
Miscellaneous
100
The number of electoral votes Oklahoma has
What is 7?
100
The name given to a Bank or other entity that issues stock on behalf of a company going public
What is an underwriter?
100
True or False: Employee learns from an internal auditor that his company has been bribing foreign officials and the employee tells the local newspaper editor who then trades on the information. The employee is guilty of insider trading
What is false. Employee did not trade and the revelation of the information was as a whistleblower and had no reason to know the newspaper would trade.
100
Name the term for when a company is not required to register with the SEC
What is exempt (e.g. municipal bonds, promissory notes, nonprofit entities, not a public transaction (limited assets for 5 years), by persons other than issuers)
100
True or False: The US Constitution provides that the popular vote of the nation selects the President
What is false? (it is all done through the electoral college)
200
The number of electoral votes needed to win the presidential election
What is 270?
200
Name of entity that issues stock that is not on the exchanges
What is over the counter stock traders, e.g Merill Lynch (stock prices are monitored through an Over-the-Counter Bulletin Board; the person from whom the broker buys the stock is called a Market Maker. Usually these stocks are riskier because they are of small companies with $50 million or less in market cap)
200
True or False: Joe is a new member of AA and tells his AA sponsor Sam about how stressful his job is because his company is undergoing a merger with Google. The sponsor trades. Joe is guilty of inside trading.
What is False? He was in a position of trust and confidence with sponsor and had no reason to know he would trade. Sponsor is liable.
200
Name the amount of total assets and the number of shareholders required to warrant registration
What is $10 million and 500 or more shareholders?
200
Identify who selects the President if there is an electoral tie of 269 to 269?
What is the House of Representatives? (each rep gets one vote, so each state has one vote, and it is done by a majority in January)
300
The total number of electoral votes nationwide
What is 538?
300
Name of the entity that regulates the OTC trade
What is Financial Industry Regulatory Authority (FINRA)?
300
True or False: Barry Switzer sits behind some acquaintances at his daughter's soccer game and overhears the man he knows to be a financial advisor speaking to his wife about travel plans because of an upcoming merger. Barry tells his friends and they all trade on the information. Barry is liable for insider trading.
What is false He was not in a position of trust and confidence.
300
True or False: Meeting the registration requirements of the SEC satisfies exchange requirements.
What is False Each exchange has its own rules.
300
Name the entity that chooses the Vice President.
What is the Senate?
400
An event held in June where members of a party (Republican or Democrat) hold a meeting to convince their electoral delegates who the nominee should be for their party
What is a caucus? (A primary is a secret ballot process similar to a presidential election where ballots are cast for a particular nominee)
400
Name the reason the SEC was created.
What is to restore confidence in the stock exchanges? Prior to the stock crash, there was limited oversight in securities trading and many shares were sold based on inaccurate information and there was a large credit boom--when debtors couldnt pay, banks ran out of money
400
True or False: Mary works for Google and learns that it will use a new search design and tells her best friend about it telling her best friend she ought to trade on the information
What is false only if the information is material (search design not material here) is it an element in insider trading
400
Name the report companies must file annually
What is a 10-K (this must be certified by the CEO, CFO no later than 30 days following its fiscal year) 10-Q is the quarterly report and usually where failing to disclose potential financial issues trigger suits
400
Name the person who acts as President if the House has a tie vote on the President and the Senate has a tie vote on the VP?
Who is the Speaker of the House?
500
Name the term for the day 14 states hold their primaries on the same day.
What is Super Tuesday?
500
Name the electronic system companies must use for their electronic filings
What is EDGAR
500
True or False: On March 1, 2016, Mary tells her friend Susan that Google is about to acquire FAcebook and that she ought to buy shares. On March 1, 2106, Google announces on its website it is in talks with FB about acquiring it. Mary and Susan are liable for insider trading if Susan trades.
What is false The information must be nonpublic
500
Name the report that is filed if suddenly a company is hit with a large judgment against it
What is an 8-k (within 4 days of the event)
500
Name the first President who was decided by the House of Representatives after an electoral college tie
Who was Thomas Jefferson? (It was between him and Aaron Burr which led to ongoing conflict as Burr became VP according to the constitution at that time; constitution was amended to award VP election to the Senate) The next time it happened was between John Adams and Andrew Jackson (Adams won) and then to Richard Johnson over Francis Granger (Johnson one)
M
e
n
u