CSCP CSCP Regulatory Reporting & Disclosures

Question 1

Under SEC Regulation S-K, what is the primary purpose of the Management's Discussion and Analysis (MD&A) section in a public company's annual report?

Accepted Answer

To provide management's perspective on financial condition, results of operations, and liquidity

Answer

To list all company employees

Answer

To disclose all pending litigation in full detail

Answer

To summarize the auditor's opinion

Question 2

What is the deadline for a large accelerated filer to file its annual report (Form 10-K) with the SEC?

Accepted Answer

60 days after fiscal year end

Answer

30 days after fiscal year end

Answer

45 days after fiscal year end

Answer

90 days after fiscal year end

Question 3

FINRA Rule 4370 requires member firms to maintain and update business continuity plans (BCPs). When must a firm notify FINRA of a material update to its BCP?

Accepted Answer

Within 17 business days

Answer

Within 24 hours

Answer

At least annually

Answer

Only when activating the plan

Question 4

Which form must a registered representative file when they terminate employment with a FINRA member firm?

Accepted Answer

Form U5

Answer

Form U4

Answer

Form BD

Answer

Form ADV

Question 5

What disclosure obligation arises under SEC Rule 10b-5 when a company executive learns of a material acquisition before public announcement?

Accepted Answer

The executive must abstain from trading and ensure no trading on non-public information until disclosure

Answer

The executive must file a Form 4 immediately

Answer

The executive must notify the board within 24 hours

Answer

The executive may trade if they report it within 10 days

Question 6

Under the SEC's Regulation Fair Disclosure (Reg FD), what must a company do if it unintentionally discloses material non-public information to a select group of investors?

Accepted Answer

File a Form 8-K within 24 hours and make the information public

Answer

Notify the SEC within 10 days

Answer

Issue a press release within 30 days

Answer

Take no action if the disclosure was accidental