3. Guitar Factory Corporation files a registration statement and delivers a prospectus to the appropriate parties. These items are intended to enable the evaluation of certain financial risks by a. sophisticated investors only. b. market professionals to explain to all investors. c. government regulators to disclose to the general public. d. unsophisticated investors.

4. Gary, who is in good health, tells his daughter Heidi that she can have his restored 1932 Ford Coup one day when he dies.This is a. a gift causa mortis. b. not a gift. c. a gift inter vivos. d. a gift by accession.