Which of the following statements is or are accurate

12. Which of the following statements is or are accurate?I.The Securities and Exchange Commission interprets federal securities laws, but does not investigateviolations.II.The Securities and Exchange Commission administrative law judges hear cases involving allegedsecurities law violations.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate13.Which of the following statements is or are accurate?I.The definition of security in the 1934 Act does not include instruments and interests commonlyknown as securities.II.The definition of security in the 1934 Act differs substantially from the definition of securities in the1933 Act.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.14.Which of the following statements is or are accurate?I.Most private, small-business, noninvestment company offers of securities are not exempt from theregistration requirements..II.”Forward-looking” financial forecasts are immune from liability for securities fraud.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.15.Which of the following statements is or are accurate?I.Anyone who wrongfully obtains inside information and trades on it for his or her personal gain isliable in a private civil action under SEC Rule 10b-5.II.For criminal sanctions to be imposed under Section 10(b) of the Securities Exchange Act of 1934 andSEC Rule 10b-5, scienter is not required.16.116.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.16.Which of the following statements is or are accurate?I.For a defendant to be convicted in a criminal prosecution under the securities laws, there can be noreasonable doubt that the defendant knew he or she was acting wrongfully.II.The Securities and Exchange Commission can bring a civil action against anyone who aids in aviolation of the Securities Exchange Act of 1934.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.17.Which of the following statements is or are accurate?I.State corporation statutes set up the legal framework for corporate governance.II.Under the Sarbanes-Oxley Act of 2002, chief executive officers no longer need to certify the accuracyof information in corporate financial statements.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.27.Which of the following statements is or are accurate?I.To be considered material, a fact must be significant enough that it would likely affect an investor’sdecision to buy or sell a company’s securities.II.Liability under Section 10(b) of the Securities Exchange Act of 1934 has been extended to includecertain “outsiders.”a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.28.Which of the following statements is or are accurate?I.It is always wrong to disclose material, nonpublic information about a company to a person whowould not otherwise be privy to it.II.For civil sanctions to be imposed under Section 10(b) of the Securities Exchange Act of 1934 andSEC Rule 10b-5, scienter must not exist.29.Which of the following statements is or are accurate?I.Violations of Section 16(b) of the Securities Exchange Act of 1934 include the sale by insiders ofstock acquired less than six months before the time of sale.II.For a defendant to be convicted in a criminal prosecution under the securities laws, a jury is allowedto speculate that the defendant may have acted wrongfully.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.30.Which of the following statements is or are accurate?I.Private parties can sue violators of Section 10(b) of the Securities Exchange Act of 1934 and SECRule 10b-5 in private civil actions.II.Private parties can sue violators of Section 10(b) of the Securities Exchange Act of 1934 and SECRule 10b-5 only through shareholder derivative actions.a. I only is accurate.b. II only is accurate.c. Both are accurate.d. Neither is accurate.