No, it is not a penalty under Fed. rules, and the offense can throw as many forward passes as they want before any change of possession and if all passes originate in or behind the neutral zone (the feet of the passer must be behind/in the NZ). I have last year's rulebook with me, but the rule reference in that is 7-5-1.
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If the play is designed to fool someone, make sure you aren't the fool.
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