For an underwriter, which of the following "burden of proof" standards apply in avoiding liability for errors in a registration statement under Section 11 of the Securities Act of 1933? I. Written disclaimer of responsibility to the SEC II. Timely advisement of known errors through notice to the SEC III. Lack of direct personal knowledge of errors IV. Reasonable grounds to believe statements were true on the effective date

For an underwriter, which of the following "burden of proof" standards apply in avoiding liability for errors in a registration statement under Section 11 of the Securities Act of 1933? I. Written disclaimer of responsibility to the SEC II. Timely advisement of known errors through notice to the SEC III. Lack of direct personal knowledge of errors IV. Reasonable grounds to believe statements were true on the effective date

For an underwriter, which of the following "burden of proof" standards apply in avoiding liability for errors in a registration statement under Section 11 of the Securities Act of 1933?
I. Written disclaimer of responsibility to the SEC
II. Timely advisement of known errors through notice to the SEC
III. Lack of direct personal knowledge of errors
IV. Reasonable grounds to believe statements were true on the effective date 






A) I and II only
B) II and III only
C) I, II and III only
D) I, II and IV only










Answer: D