SIE practice questionmediumMaterial Non-Public Information
Which of the following would be considered material, non-public information (MNPI)?
- AAn analyst's published research report recommending a buy
- BA news article about a company's quarterly earnings already published in the Wall Street Journal
- CA CEO privately telling a friend that the company will announce a merger tomorrow✓ Correct answer
- DHistorical stock price data available on a financial website
Explanation
Why C — A CEO privately telling a friend that the company will announce a merger tomorrow
Material, non-public information is information that would affect a reasonable investor's decision and has not yet been disseminated to the general public. A CEO privately sharing news of an upcoming merger announcement is a textbook example. Published news articles, analyst reports, and historical stock data are public information.
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