Which of the following are key requirements of the Sarbanes-Oxley Act? I. Office

Question

Which of the following are key requirements of the Sarbanes-Oxley Act?
I. Officers of the corporation must review and sign annual reports.
II. Officers of the corporation must now own more than 5% of the firm's stock.
III. Annual reports must list deficiencies in internal controls.
IV. Annual reports must be filed with the SEC within 30 days of year end.
A. I only
B. II only
C. I and III only
D. II and III only
E. II and IV only

Insider trading is:
A. legal.
B. impossible to have in our efficient market.
C. illegal.
D. discouraged, but legal.
E. list only the securities of the largest firms.

The Securities Exchange Act of 1934 focuses on:
A. insider trading.
B. issuance of new securities.
C. sales of existing securities.
D. all stock transactions.
E. Federal Deposit Insurance Corporation (FDIC) insurance.

Explanation / Answer

C. I and III only C. illegal. A. insider trading. answer guaranteeed!

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