Question
QUESTION 33 1933 & 1934 SEC Acts: Under Section 11 of the Securities Act of 1933 and Section 10(b), Rule 10b-5 of the Securities Exchange
QUESTION 33
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1933 & 1934 SEC Acts: Under Section 11 of the Securities Act of 1933 and Section 10(b), Rule 10b-5 of the Securities Exchange Act of 1934, a CPA may be sued by a purchaser of registered securities. Each item relates to what a plaintiff who purchased securities must prove in a civil liability suit against a CPA. For each item indicate whether the statement must be proven under Section 11 of the Securities Act of 1933, under Section (10)b, Rule 10b-5 of the Securities Exchange Act of 1934, both Acts, or neither Act.
- 1. 2. 3. 4. Material misstatements were included in a filed document.
- 1. 2. 3. 4. A monetary loss occurred.
- 1. 2. 3. 4. Lack of due diligence by the CPA.
- 1. 2. 3. 4. Privity with the CPA.
- 1. 2. 3. 4. Reliance on the document.
- 1. 2. 3. 4. The CPA had scienter.
1. | The item must be proven only under the Securities Act of 1933. |
2. | The item must be proven only under the Securities Exchange Act of 1934. |
3. | The item must be proven under both Acts. |
4. | The item must be proven under neither of the Acts. |
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