Under Section 11 of the Securities Act of 1933 and Rule 10b-5 under the Securities Exchange Act of 1934, a CPA may be sued by a purchaser of registered securities. The items below relate to what a plaintiff who purchased securities must prove in a civil suit against a CPA. Select from the option list provided the act(s) that require(s) proof of each item below. Each choice may be used once, more than once, or not at all.

1. Material misstatements were included in a filed document.
2. A monetary loss occurred.
3. Lack of due diligence by the CPA.
4. Privity with the CPA.
5. Reliance on financial statements.
6. The CPA had scienter (knowledge and intent to deceive).

Required For each of the items 1 through 6 listed above, indicate whether the statement must be proven under:

a. Section 11 of the Securities Act of 1933 only.
b. Section 10(b) of the Securities Exchange Act of 1934 only.
c. Both Section 11 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934.
d. Neither Section 11 of the Securities Act of 1933 nor Section 10(b) of the Securities Exchange Act of 1934.*