Series 7: Exercise

Taken from our Series 7 Online Guide

Exercise

Answer true or false

1. _____ During the road show, the issuer and the lead underwriter solicit investor interest in the new issue and will make conditional sales if interest is expressed.

2. _____ Pursuant to the Securities Act of 1933, the primary purpose of a company’s registering its securities with the SEC is to receive SEC approval of the securities before actually offering them to potential buyers.

3. _____ The preliminary prospectus contains almost all the same information as the final prospectus, other than the public offering price.

4. _____ The public offering price for a securities offering is set by the underwriters, based on potential investor interest during the cooling-off period.

5. _____ The cooling-off period is also called the waiting period and the registration period.

6. _____ The nickname of the Securities Act of 1933, the Paper Act, reflects the fact that the SEC requires all forms to be filled out and filed in hard copy rather than electronically.

7. _____ The nickname of the Securities Act of 1933, the Paper Act, reflects the fact that the SEC requires the prospectus be made available to potential securities purchasers in hard copy rather than electronically.

Answers

1. False. During the cooling-off period, only indications of interest may be solicited.

2. False. SEC does not approve securities. The Securities Act of 1933 was enacted to make sure that investors have enough information about a security to make an inform

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