Material AND/OR Nonpublic Information

I’m getting confused with some of the MNPI questions. So apparently it is OKAY to use non-material non-public information that you get from an inside connection at a company? Is that really true? Because to me that just doesn’t seem right. What I find confusing about that is how do you determine whether the information you’ve got is really material or not? Apparently even a slight piece of information could be material as to company’s earnings or potential for growth, etc. Taking this further, I’m confused about Mosaic theory. So as far as I know that theory basically says I can effectively piece together non-material non-public information, along with public, yet material, information, and base my recommendation on all of these? Is that all the Mosiac theory really entails?

exactly… you can never use material non-public info…ever but, if the info is non-material, then its fine… even if, when combined with your own analysis, that original non-material info becomes material, then thats fine (mosaic theory)

i believe the ethics questions we encounter on the test will be pretty clear on whether the non public info is material or not (even though some of the practice questions have not been so clear). If it is non material then you can use it, according to the mosiac theory.