Test 4.00

Under the securities Exchange Act of 1934, all of the following acts by a registered representative in connection with the sale of a security would be considered a "manipulative, deceptive, or other fraudulent device or contrivance" EXCEPT

Failure

Which federal agency is responsible for collecting complaints about identity theft & also prevents fraudulent, deceptive, and unfair business practices.

Federal Trade Commission

Which of the following regulatory agencies would be concerned with price fixing and unfair competitive practices:

Federal Trade Commission

Determine whether the following statement is true or false: Government has become an active participant in the world of business.

True; government produces goods and services.

What is the government doing when it buys wheat to keep the price high enough for farmers to make a profit?

Using price supports

After a wild Pi Kappa Phi frat party, several students from the university were walking home and found a can of paint. They thought it would be funny to paint the front window of several stores with the Pi Kappa Phi symbol. This crime is known as:

Vandalism

When government sets safety standards for the workplace, it is attempting to

minimize risks to employees.

One way in which government protects private property is to provide

patents or copyrights.

One of the reasons that has caused government's role in business to expand is that

people's attitudes have changed.

Government can prevent unqualified persons from operating a business by

refusing to grant them a license.

Government tries to protect competition by

regulating monopolies.

Rhonda's Jewelry was open for business when a person entered with a ski mask and a gun. The person proceeded to take all the jewelry from the display cases. This crime is known as:

robbery

A private securities transactions exists when a representative

selling away

At the request of a customer, a registered representative enters a trade ticket to sell 100 shares of stock. The trade ticket must be marked

selling long or short

A customer was trying on clothes at Selina's Slacks Shop and put several pairs of pants in their baggy jacket and left the store without paying for them. This crime is known as:

shoplifting

The two main sources of revenue used to pay the costs of government regulation are

taxes and borrowing.

Which of the following individuals are required to register with FINRA?

who associated with a member

Government provides protection to business owners' property through the use of

zoning laws.

Violations of the SEC rules or the Act of 1934 are subject to criminal penalties. The maximum penalty for an individual is

$1,000,000, imprisonment for 10 years, or both

The maximum gift that broker/dealers can give their employees per year is

100

The maximum penalty that can be imposed on a business entity for false or misleading information on any SEC report or application is $1,000

2,500,000

How many credit reporting agencies are there?

3

A firm that is required to start a tape recording its registered persons' telemarketing activities must continue to do so for a period of

3 years

If I am requesting additional information about a trade confirmation that I recently received, the requested information must be furnished to me within 15 business days after the date of the transaction.

5 days request

Which of the following was one of government's original roles in business:

Acting as a referee

Sam works at Elite Electronics and has been looking at the Apple watches but can't afford one. One day after he shows an Apple watch to a customer, he puts it in his pocket and takes it home. This crime is known as:

Embezzlement

Several local teenagers were mad because Bob's Burgers kicked them out for being too loud. They returned after Bob's closes and set fire to the business. This crime is known as:

Arson

Rhonda's Jewelry was closed on Sunday when a person broke a window and entered the building. The person proceeded to take all the jewelry from the display cases. This crime is known as:

Burglary

A safe way to protect from identity theft is to place a on your report with all the credit bureaus. This causes your data to be unavailable at the credit bureau until you give consent for your information to be released to the agency who is pulling your credit. By having this in place, an identity thief cannot open a new account in your name.

Credit Freeze

Government uses some of the tax money it collects from individuals and businesses to support public welfare programs. What is the benefit of these welfare programs to businesses in a private enterprise economy?

Funds received by recipients are spent in businesses.

Which of the following is a public good that is provided by government:

Interstate highways

Which of the following is a positive effect of government regulation:

Legal protection

Which of the following government actions is most likely to stimulate the economy:

Lowering tax rates

The two most important pieces of identity information for you to safeguard so that your identity cannot be stolen are:

Social security and date of birth

What is the purpose of government regulation of business activities that might cause air or water pollution?

To conserve the environment

Why does government set and collect taxes?

To help pay the expenses of government

During a sales meeting with a customer, a registered representative states that he is so confident about the investment that he will reimburse the customer for any losses. This arrangement is

Violation of SEC Rules

Government is involved in settling business disagreements through the use of

courts.

A restaurant fails to meet government regulations, so it loses its __________ and is no longer allowed to do business.

license

The goals of government are to protect the rights of individuals and businesses and to provide a stable environment, but the main goal of business is to

make a profit.