Transactional Law Quiz: Trivia!

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| By Dewitt

Dewitt

Community Contributor

Quizzes Created: 1 | Total Attempts: 93

Questions: 10 | Attempts: 93 | Updated: Mar 21, 2023

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Questions and Answers

1.

What form is filed annually by publicly held companies?
- A.
  
  8-K
- B.
  
  10-Q
- C.
  
  10-K
- D.
  
  Publicly held companies don't have to file an annual report.
Correct Answer
C. 10-K

Explanation
Publicly held companies are required to file an annual report known as the 10-K. This report provides a comprehensive overview of the company's financial performance, including audited financial statements, management's discussion and analysis, and other relevant information. It is a crucial document for investors and regulators to assess the company's financial health and make informed decisions. The 10-K filing is mandatory and helps ensure transparency and accountability in the corporate sector.

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2.

EDGAR is the database for the United States Patent and Trademark Office.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
EDGAR is not the database for the United States Patent and Trademark Office. EDGAR stands for Electronic Data Gathering, Analysis, and Retrieval system, which is used by the U.S. Securities and Exchange Commission (SEC) to collect and provide access to corporate filings and financial statements. It is not related to patents and trademarks. Therefore, the correct answer is False.

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3.

Practical Law is one of the resources found on Bloomberg Law.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
Practical Law is not one of the resources found on Bloomberg Law.

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4.

Check all the content below that can be found on Practical Law.
- A.
  
  Practice Notes
- B.
  
  Court Dockets
- C.
  
  Standard Clauses
- D.
  
  Toolkits
Correct Answer(s)
A. Practice Notes
C. Standard Clauses
D. Toolkits

Explanation
The content that can be found on Practical Law includes Practice Notes, Standard Clauses, and Toolkits. Practice Notes provide practical guidance on various legal topics, Standard Clauses offer pre-drafted clauses for legal documents, and Toolkits provide a collection of resources and templates for specific legal tasks. These resources are designed to assist legal professionals in their practice by providing valuable information, sample clauses, and practical tools to streamline their work.

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5.

This legal research platform simplifies finding documents from PACER, EDGAR, and the USPTO.
- A.
  
  Westlaw
- B.
  
  Lexis
- C.
  
  Practical Law
- D.
  
  Bloomberg Law
Correct Answer
D. Bloomberg Law

Explanation
Bloomberg Law is the correct answer because it is a legal research platform that allows users to easily find documents from PACER, EDGAR, and the USPTO. It provides comprehensive access to legal information and offers a wide range of tools and resources for legal professionals. With its user-friendly interface and extensive database, Bloomberg Law simplifies the process of locating relevant legal documents and conducting legal research efficiently.

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6.

Practical Law updates documents using KeyCite.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The statement suggests that Practical Law updates documents using KeyCite. However, this is not true. KeyCite is a legal research tool used for citation analysis and research, but it is not used for updating documents. Therefore, the correct answer is false.

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7.

Form DEF 14-A is also known as:
- A.
  
  Quarterly report
- B.
  
  Proxy Report
- C.
  
  Annual report
- D.
  
  Press Release
Correct Answer
B. Proxy Report

Explanation
Form DEF 14-A is also known as a Proxy Report. This form is filed with the Securities and Exchange Commission (SEC) by a publicly traded company to provide shareholders with information about matters that will be voted on at the company's annual meeting, such as the election of directors or the approval of executive compensation. The Proxy Report includes important details about the company's corporate governance, executive compensation, and other relevant information that shareholders need to make informed voting decisions.

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8.

Publicly-held corporations cannot amend a form once filed with the SEC.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
Publicly-held corporations can amend a form once filed with the SEC. This is because the SEC allows corporations to make amendments to their previously filed forms in order to provide updated or corrected information. This ensures transparency and accuracy in the information provided to investors and the public.

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9.

On a 10-K filing, this is where you will find legal proceedings:
- A.
  
  Item 1
- B.
  
  Item 2
- C.
  
  Item 3
- D.
  
  Legal proceedings aren't reported on a 10-K.
Correct Answer
C. Item 3

Explanation
Legal proceedings are typically reported in the "Legal proceedings" section of a 10-K filing, which is usually found under Item 3. This section provides information about any pending or potential lawsuits, claims, or other legal matters that could have a significant impact on the company's financial position or operations.

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