Question 1
The only parties who can recover from auditors under the Securities Act of 1933 are original purchasers of securities.
◦ true
◦ false
Question 2
The same defenses available to auditors under common-law suits filed by third parties-nonnegligent performance, lack of duty, and absence of causal connection-are
not available to auditors for lawsuits under the Securities Act of 1934.
◦ true
◦ false