What is EDGAR?
A. A system the SEC uses to reject registration statements that do not contain adequate information.
B. The enforcement arm of the SEC.
C. A system designed by the SEC to allow electronic filings.
D. A branch of the government that oversees the work of the SEC.
Ans: C. A system designed by the SEC to allow electronic filings.
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A real estate broker sent all of his title business to Wonderful Title Co. In appreciation of the business, the title company paid the broker $10 for each transaction. According to the Real Estate Settlement Procedures Act, "RESPA," this practice is:
A: Acceptable if both buyer and seller are told about it and approve; B: Permissible if the seller is going to pay for the title services and is told about it and approves; C: Permissible; D: Forbidden.
Case Corp. is incorporated in State A. Under the Revised Model Business Corporation Act, which of the following activities engaged in by Case requires that Case obtain a certificate of authority to do business in State B?
A. Maintaining bank accounts in State B. B. Collecting corporate debts in State B. C. Hiring employees who are residents of State B. D. Maintaining an office in State B to conduct intrastate business.