b. The Securities Exchange Act of 1934 C SEC Regulation D d SEC Regulation S-K advisors give investment advice: investment funds as well as broker-dealers buy and sell securities. Which one of the following statements is NOT correct: 12. that do not receive special compensation for investment advice are exempt from regulation as investment advisors Mutual funds, private equity funds and hedge funds are investment pools in which investors entrust their money to obtain diversification and professional management b. c Fund advisers who manage registered mutual funds must register as "investment advisers" with the SEC Fund advisers who manage only unregistered private funds do not have to register as "fund advisers" with the SEC d. 14. Under the U.S. Sentencing Guidelines for organizations, the culpability score of an organization convicted of an offense might be asgravated if a. The organization had an effective program to prevent and detect violations of law b. The organization self-reported the offense to ap c. The current offense violated a prior judicial order, injunction, or condition of probation iate governmental authorities d. High-level personnel were not involved in and condemned the criminal activity 15. Which of the following statements regarding the Sarbanes-Oxley Act (SOX) is true? a. The provisions of SOX were repealed by the passing of the Foreign Corrupt Practices Act b. SOX was a legislative response to a series of corporate accounting scandals that began to dominate the financial markets and mass media in 2001 SOX permitted public accounting firms to provide audit services to any company whose CEO was employed by that accounting firm within the previous 12 months The SOX prohibit public accounting firms that c. d. traded companies from registering with the Public Company Accounting Oversight Board audit the financial statements of publicly 16. Which of the following is not a requirement of the Bank Secrecy Act? Report suspicious activity that may evidence money laundering, tax evasion, or other criminal activities a. b. Implement a written, board-approved compliance monitoring program