QUESTION 45 Which of the following statements is true of the statute of limitations? The statute of limitation excludes reasonable diligence in discovering untrue statement or omission. A suit may be brought in any event even after five years of sale. The defense mechanism is inapplicable in cases of civil liability The statute of limitation begins even before the discovery of untrue statement or omission. The basic period for the statute of limitation is one year. QUESTION 46 Which of the following type of fraud combines the threat of impersonatipn share a percentage of millions of dollars? telemarketing fraud fraud with a variation of an advance fee schem embezzlement identity fraud Ponzi scheme “419” fraud

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