SIE Mastery Exam Questions With Verified And Updated Solutions.

SIE Mastery Exam Questions With Verified And Updated Solutions. You notice a new customer, Malcom Wren, has a pattern of buying and selling stocks with holding periods of just a day or two. He seems unconcerned with losses. Additionally, between trades, he wires the money to and from a number of offshore accounts. After informing your supervisor, the most likely action for your company is to a) file a CTR with FinCEN b) inform the customer about the irregular activity in the account c) file a SAR with FinCEN d) inform the SEC - answerc) file a SAR with FinCEN (Currency Transaction Report vs Suspicious Activity Report) All of the following statements about a bond selling above par value are true except... a) the yield to maturity is lower than the nominal yield b) the nominal yield always stays the same c) the nominal yield is Lower then the current yield d) the current yield is higher than the yield to maturity - answerc) the nominal yield is lower than the current yield Which of the following statements describing Section 529 plans is true? a) the maximum contribution varies from state to state b) most state college savings plans require either the owner or the beneficiary of the plan to be a state resident c) the fee associated with them are similar from state to state d) they can only be opened for children under age 18 - answera) The features of Section 529 plans, including their contribution limits and fees, vary widely from state to state. Section 529 plans have no age limits as to participation; they are open to both children and adults who plan to attend college or graduate school. For college savings plans, there is no state residency requirement for either owners or beneficiaries of Section 529 plans. The Achieving a Better Life Experience (ABLE) Act of 2014 enabled the establishment of ABLE accounts for certain individuals. Which of the following statements regarding ABLE accounts is false? a) contributions can be made by any person, including the account beneficiary b) eligibility is limited to those where the onset of a significant disability occurred before the age of 26 c) come earned in an ABLE account is not taxed d) contributions to ABLE accounts are tax deductible - answerd) contributions are tax deductible Which of the following may not be disclosed to a potential buyer while a security is in registration? a) the issue is being offered through ABC Investment Bank b) there will be a raid show in NYC in may c) a brokerage report shows the security is properly valued d) the issue is expected to be priced early June - answerc) a brokerage report shows the security is properly valued If a real estate investment trust (REIT) distributes 85% of its net investment income to shareholders, on how much of its net investment income must the trust pay taxes? a) only on that portion not taxable to the shareholders b) 15% c) 100% d) 85% - answerc) 100% Your customer , Maya Jenyer, is 27 years old and in the 20% federal income tax bracket. She is interested in opening a Roth IRA as a supplement to her retirement savings. Her intention is to place the entirety of her contribution into the Windmill Growth Fund, which offers a choice of share classes. Which share classes could likely be the best for this customer. a) C shares b) B Shares c) I Shares d) A Shares - answera) C Shares Local government investment pools (LGIP) are established by...