Choice "A" is correct. The registration statement is divided into two parts. Part I is the prospectus; Part II contains other information about the securities being issued.Choice "c" is incorrect. The SEC never passes on the merits of a security. The prospectus merely gives an investor information on which to make an investment decision.
Choice "b" is incorrect. The registration statement, including the prospectus, must be filed before any offer to sell may be made.
Choice "d" is incorrect. The SEC does not review the accuracy of the prospectus, but merely assures that it contains the required information.