28. Congress enacted legislation in 1933 to regulate the securities industry and prohibit various forms offraud with securities. The Securities Exchange Act of 1934 was passed a year later. This law created the Securities and Exchange Commission (SEC) as an independent regulatory entity whose function is to enforce the two laws. The SEC has generated rules and regulations to fulfill this purpose. These rules and regulations are: a. statutes. b. administrative law. c. executive orders. d. common law. b ANSWER: 1 POINTS: Difficulty: Challenging DIFFICULTY: United States- BUSPROG: Analytic NATIONAL STANDARDS: United States- NC- AICPA: BE-Critical Thinking STATE STANDARDS: TOPICS: A-Head: Sources of Contemporary Law KEYWORDS: Bloom's: Analysis 29. Henry David Thoreau felt that war was unjust and therefore refused to pay his taxes when the United States declared war on Mexico. Thoreau felt that there was a higher law than the law of the land. Which theory of jurisprudence was he applying? a. Legal Positivism. b. Natural Law. c. Legal Realism. d. CommonLaw. b ANSWER: 1 POINTS: Difficulty: Moderate DIFFICULTY: United States- BUSPROG: Analytic NATIONAL STANDARDS: United States- NC- AICPA: BE-Critical Thinking STATE STANDARDS: TOPICS: A-Head: Jurisprudence KEYWORDS: Bloom's: Application
28. Congress enacted legislation in 1933 to regulate the securities industry and prohibit various forms offraud with securities. The Securities Exchange Act of 1934 was passed a year later. This law created the Securities and Exchange Commission (SEC) as an independent regulatory entity whose function is to enforce the two laws. The SEC has generated rules and regulations to fulfill this purpose. These rules and regulations are: a. statutes. b. administrative law. c. executive orders. d. common law. ANSWER: b POINTS: 1 DIFFICULTY: Difficulty: Challenging NATIONAL STANDARDS: United States- BUSPROG: Analytic STATE STANDARDS: United States- NC- AICPA: BE-Critical Thinking TOPICS: KEYWORDS: A-Head: Sources of Contemporary Law Bloom's: Analysis 29. Henry David Thoreau felt that war was unjust and therefore refused to pay his taxes when the United States declared war on Mexico. Thoreau felt that there was a higher law than the law of the land. Which theory of jurisprudence was he applying? a. Legal Positivism. b. Natural Law. c. Legal Realism. d. CommonLaw. ANSWER: b POINTS: 1 DIFFICULTY: Difficulty: Moderate NATIONAL STANDARDS: United States- BUSPROG: Analytic STATE STANDARDS: United States- NC- AICPA: BE-Critical Thinking TOPICS: KEYWORDS: A-Head: Jurisprudence Bloom's: Application
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