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Series 79 – Practice Test 2

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Question 1 of 10

1. Question

Short selling of the covered security under Reg. M within 5 business days of the pricing of the new issue:

is prohibited
Correct Incorrect Correct answer

is not restricted
Correct Incorrect Correct answer

requires the executing firm to be a passive market maker
Correct Incorrect Correct answer

is permitted if a member firm is acting in its capacity as a market maker
Correct Incorrect Correct answer

Correct

Incorrect
Question 2 of 10

2. Question
A NASDAQ-listed company is registering additional common shares which will be priced as of Friday, November 15th. A purchase of the new shares will not be deemed a violation of Rule 105 if the purchase of the new shares had shorted shares of the issuer on which of the below dates?
1. November 11th
2. November 8th
3. November 7th
4. November 1st
IV only
Correct Incorrect Correct answer

III and IV
Correct Incorrect Correct answer

II, III and IV
Correct Incorrect Correct answer

all of these
Correct Incorrect Correct answer
Correct

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Question 3 of 10

3. Question

Under the Act of ’33, a deficiency letter will have the most immediate impact on which of the following documents?

preliminary prospectus
Correct Incorrect Correct answer

statutory prospectus
Correct Incorrect Correct answer

offering circular
Correct Incorrect Correct answer

syndicate letter
Correct Incorrect Correct answer

Correct

Incorrect
Question 4 of 10

4. Question

Under what circumstance may a Research Analyst accompany Investment Banking personnel to a road-show event?

if the analyst contributed information to the S-1
Correct Incorrect Correct answer

if FINRA approval is obtained
Correct Incorrect Correct answer

under no circumstances
Correct Incorrect Correct answer

none of the above
Correct Incorrect Correct answer

Correct

Incorrect
Question 5 of 10

5. Question

An SEC Rule 147 offering statement shall be filed with which of the below entities for its review?

SEC office in Washington, D.C.
Correct Incorrect Correct answer

SEC regional office covering the location of the headquarters of the Issuer
Correct Incorrect Correct answer

Administrator of the state in which the Issuer’s headquarters is located
Correct Incorrect Correct answer

All of the above
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 10

6. Question

When a privately held corporation makes the decision to ‘go public,’ a number of regulatory hurdles must be dealt with, including which of the below:

Filing the Form S-1 with the Securities & Exchange Commission
Correct Incorrect Correct answer

Alerting the Officers and Directors of their new and more complex legal responsibilities when trading in their stock in the company.
Correct Incorrect Correct answer

Undergoing extensive due diligence prior to the intended effective date of the IPO
Correct Incorrect Correct answer

Each of the above are part of the IPO process.
Correct Incorrect Correct answer

Correct

Incorrect
Question 7 of 10

7. Question

The FINRA Series 79 qualification examination provides an agent of a registered B/D a license to:

Sell general securities
Correct Incorrect Correct answer

Participate in public and private securities offerings as part of the investment banking division within their sponsoring brokerage firm.
Correct Incorrect Correct answer

Charge fees to clients for wealth management
Correct Incorrect Correct answer

None of the above
Correct Incorrect Correct answer

Correct

Incorrect
Question 8 of 10

8. Question

When your firm has been engaged to be the managing underwriter of a follow-on offering, which of the following SEC regulations is most relevant?

Reg. T
Correct Incorrect Correct answer

Reg. S
Correct Incorrect Correct answer

Reg. M
Correct Incorrect Correct answer

Reg. A
Correct Incorrect Correct answer

Correct

Incorrect
Question 9 of 10

9. Question

One of your corporate clients wishes to raise additional equity capital while simultaneously officers of the issuer wish to sell some of their common stock. Which of the below terms best applies to this situation?

Secondary offering
Correct Incorrect Correct answer

Split offering
Correct Incorrect Correct answer

Primary offering
Correct Incorrect Correct answer

This type of arrangement is not permitted under SEC regulations
Correct Incorrect Correct answer

Correct

Incorrect
Question 10 of 10

10. Question

There are numerous types of full disclosure documents which are called for under SEC and SRO rules and regulations. The Offering Circular is most often associated with?

Rule 147 offering
Correct Incorrect Correct answer

MSRB municipal new issue offerings
Correct Incorrect Correct answer

Regulation S offerings
Correct Incorrect Correct answer

Reg. D private placement offerings
Correct Incorrect Correct answer

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1. Question

Short selling of the covered security under Reg. M within 5 business days of the pricing of the new issue:

2. Question

A NASDAQ-listed company is registering additional common shares which will be priced as of Friday, November 15th. A purchase of the new shares will not be deemed a violation of Rule 105 if the purchase of the new shares had shorted shares of the issuer on which of the below dates?

3. Question

Under the Act of ’33, a deficiency letter will have the most immediate impact on which of the following documents?

4. Question

Under what circumstance may a Research Analyst accompany Investment Banking personnel to a road-show event?

5. Question

An SEC Rule 147 offering statement shall be filed with which of the below entities for its review?

6. Question

When a privately held corporation makes the decision to ‘go public,’ a number of regulatory hurdles must be dealt with, including which of the below:

7. Question

The FINRA Series 79 qualification examination provides an agent of a registered B/D a license to:

8. Question

When your firm has been engaged to be the managing underwriter of a follow-on offering, which of the following SEC regulations is most relevant?

9. Question

One of your corporate clients wishes to raise additional equity capital while simultaneously officers of the issuer wish to sell some of their common stock. Which of the below terms best applies to this situation?

10. Question

There are numerous types of full disclosure documents which are called for under SEC and SRO rules and regulations. The Offering Circular is most often associated with?