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NEW QUESTION: 1
Rich Quick is a broker-dealer licensed in the state of Massachusetts and has offices only within the state.
Two of Rich Quick's clients regularly vacation in Florida during the winter months, and Rich Quick
executes trades for them when they call him from out-of-state. Based on these facts,
I. Rich Quick needs to register as a broker-dealer in the state of Florida as well.
II. Rich Quick needs to register only as an agent in the state of Florida.
III. Rich Quick needs to establish an office in the state of Florida in order to transact business.
IV. Rich Quick need not register in Florida.
A. Statements II and III are true.
B. Statements I and III are true.
C. Only Statement IV is true.
D. Only Statement I is true.
Answer: C
Explanation:
Based on the facts provided, Rich Quick need not register in Florida since he has no offices
in the state of Florida, and he is conducting business for existing clients who are merely vacationing in
Florida and are not residents of the state.
NEW QUESTION: 2
The MAIN reason an organization's incident management procedures should include a post-incident review is to:
A. ensure evidence is collected tor possible post-event litigation.
B. improve processes by learning from identified weaknesses
C. enable better reporting for executives and the audit committee
D. take appropriate action when procedures are not followed
Answer: B
NEW QUESTION: 3
During the development of a purchasing system, an auditor reviewed the payment authorization program. Which of the following actions should the auditor recommend for a situation in which the quantity invoiced is greater than the quantity received?
A. Pay the amount billed and adjust the inventory account for the difference.
B. Authorize payment of the full invoice, but maintain an open purchase order record for the missing goods.
C. Issue an exception report.
D. Return the invoice to the vendor for correction.
Answer: C
