Question 1

Which of the following statements is incorrect regarding the Wall Street Reform and Consumer Protection Act of 2010 (Dodd Frank Act)?

Question 1 options:

	The Dodd Frank Act created the Consumer Financial Protection Board, a new regulator protecting consumers.
	The provisions of the Dodd Frank Act resulted in a large number of regulations that applied only to banking organizations.
	New regulations were created for the riskiest derivative securities including credit default swaps.
	The Dodd Frank Act resulted in the most significant changes to banking regulation in decades.

Question 2

Is regulation helpful or harmful?

Question 2 options:

	Regulation is needed to ensure full employment of accountants, auditors and regulators.
	Regulation can be both helpful and harmful depending on the objectives of the regulation and how it is structured.
	Regulation is always helpful because our elected officials and governance leaders act in the best interest of businesses and consumers in passing legislation and implementing regulations.
	Regulation is always harmful to businesses because it interferes with a free market economy.

Question 5

Which of the following may indicate a potential violation of the Foreign Corrupt Practices Act?

Question 5 options:

	Consultants were paid tho do not appear to have the appropriate qualifications for the work.
	The country in which the company is operating has a history of corruption.
	Documentation is lacking for large cash payments.
	All of the above indicate potential violations of the Foreign Corrupt Practices Act.
	None of the above indicate potential violations of the Foreign Corrupt Practices Act.

Question 6

Regarding the Bank Secrecy Act of 1970, all of the following are true except:

Question 6 options:

	Was passed to reduce unreported cash transactions in the underground economy.
	Requires financial institutions to maintain records on certain cash transactions and customer relationships.
	Prohibits bribes and kickbacks to U.S. company officials.
	Requires reporting of certain cash transactions to the Financial Crimes Enforcement Network.

Question 7

The Foreign Corrupt Practices Act applies to foreign companies with operations in the U.S.

Question 7 options:

	True
	False

Question 3

The Securities Act of 1933 created the Securities and Exchange Commission.

Question 3 options:

	True
	False