SEC CO AP Practice Questions - SEC Phase 2-7D Compliance Officer Associated Person Exam - SEC CO AP Practice Questions - SEC Phase 2-7D Compliance Officer Associated Person Exam

Question 1

Under Section 8 of the Securities Regulation Code (SRC) of the Philippines, what is the general rule regarding the sale or distribution of securities?

Securities cannot be sold or offered for sale without a registration statement filed with and approved by the SEC. Securities can be sold freely provided the issuer is a registered corporation with the SEC. Registration is only required if the securities are sold to more than 100 retail investors. Securities of private corporations are exempt from registration, while public corporations must register.

Correct Answer:

Securities cannot be sold or offered for sale without a registration statement filed with and approved by the SEC.

Question 2

Which of the following is classified as an 'Exempt Security' under Section 9 of the Securities Regulation Code (SRC) and is therefore exempt from SEC registration?

A bond issued by a private real estate developer listed on the PSE. A security issued or guaranteed by the Government of the Philippines. Common shares of stock issued by a newly incorporated local manufacturing company. Debentures issued by an investment house for public distribution.

Correct Answer:

A security issued or guaranteed by the Government of the Philippines.

Question 3

Under Section 9.1 of the SRC, which of the following banks' securities is exempt from registration requirements?

Any security issued by a bank except its own shares of stock. Common shares issued by a commercial bank to increase its capital. Bonds issued by a foreign bank's parent company abroad. Preferred shares issued by a thrift bank to the public.

Correct Answer:

Any security issued by a bank except its own shares of stock.

Question 4

Which transaction is classified as an 'Exempt Transaction' under Section 10.1 of the Securities Regulation Code, requiring no prior registration of the securities sold?

The public offering of mutual fund shares by an investment company. A sale of securities by an executor or administrator at a judicial sale. An online public subscription campaign for corporate bonds. A commercial distribution of convertible debentures to retail investors.

Correct Answer:

A sale of securities by an executor or administrator at a judicial sale.

Question 5

Under Section 10.1(k) of the SRC, the sale of securities to qualified buyers is an exempt transaction. Who among the following is NOT automatically considered a qualified buyer?

A registered investment company (mutual fund). A licensed insurance company. An individual retail investor with a net worth of Php 5 million. A licensed bank or trust company.

Correct Answer:

An individual retail investor with a net worth of Php 5 million.

Question 1

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Prepare with the SEC CO AP Practice Questions - SEC Phase 2-7D Compliance Officer Associated Person Exam practice quiz. This question bank includes 100 questions covering securities, rules, section, transaction, and stock. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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SEC CO AP Practice Questions - SEC Phase 2-7D Compliance Officer Associated Person Exam

This practice set contains 100 questions from the matching question bank and focuses on securities, rules, section, transaction, and stock. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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SEC CO AP Practice Questions - SEC Phase 2-7D Compliance Officer Associated Person Exam

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