If you know these acts cold, it’s a 10 second question each. Brownie points, ain’t they? Which of the following statements regarding the Celler-Kefauver Act is least accurate? The Celler-Kefauver Act: A) was passed to address weaknesses in the Clayton Act. B) broadened the regulatory authority to include asset purchases. C) added rules to address vertical and conglomerate mergers. D) required that all mergers must be approved by the appropriate governmental regulatory agency in advance. The first major piece of U.S. antitrust legislation was enacted in: A) 1890. B) 1850. C) 1876. D) 1709. E) 1914. F) 1790.
Complete random guess: D E
Wow. Those were my random guesses too.
A G) 1327 Seriously, any chance that these beauties are really asked on D Day???
A A google is best friend.
A for second
1890 sherman antitrust- i remember that from AP us history in 10th grade. as for celler-whoever, umm… i will take the physical challenge.
Answers are D and A. Don’t think they are CFAI likely questions.
dinesh, If I see a question on this topic in the actual exam I am going to scream you name right then and there.
A A
D, A, nice, learned these cold for the CMA exams in February.
does screaming out dinesh come before or after the guido fist pump? and wouldn’t it be A, A? here’s a cut/paste for those w/o schweser online: 1890: The Sherman Antitrust Act made any contracts or combinations that attempted to restrain trade or create a monopoly in an industry illegal. The Act was ineffective because the U.S. Department of Justice lacked enough resources to enforce it. Within a few years, the Sherman Act was challenged in the courts and deemed unenforceable due to ambiguous wording. 1914: The Clayton Antitrust Act was passed to improve upon the Sherman Act by detailing specific business practices deemed illegal. In order to enforce the new law, the Federal Trade Commission Act of 1914 was also enacted to create the Federal Trade Commission (FTC) as a regulatory agency to work with the U.S. Department of Justice. 1950: The Celler-Kefauver Act was passed to address weaknesses in the Clayton Act. For example, the Clayton Act only regulated stock purchases, and not asset purchases. Celler-Kefauver closed this loophole and also added new rules to address antitrust behavior pertaining to vertical and conglomerate mergers. 1976: The Hart-Scott-Rodino Antitrust Improvements Act of 1976 required all potential mergers to be reviewed and approved of in advance by the FTC and Department of Justice. Prior to 1976, a merged company had to be dissembled after the fact if the merger was deemed anticompetitive.
oh whoops, LEAST accurate. right, D.
AA
Question 1: D , ask for “least accurate”, just look at “all mergers” in D.