SIE Practice Exam 2 Questions and Answers Already Passed
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Course
SIE Practice
Institution
SIE Practice
SIE Practice Exam 2 Questions and
Answers Already Passed
What documentation is required by the IRS if a taxpayer uses the substantially equal periodic
payment (SEPP) exception to avoid early withdrawal penalties?
A. Evidence of financial difficulty
B. Proof that withdrawals are for quali...
1 SIE Practice Exam 2 Questions and Answers Already Passed What documentation is required by the IRS if a taxpayer uses the substantially equal periodic payment (SEPP) exception to avoid early withdrawal penalties? A. Evidence of financial difficulty B. Proof that withdrawals are for qualified medical or educational expenses C. Verification of proper tax withholding D. None of these options ✔✔D What term refers to an individual who provides compensation -based advice on securities, manages investment portfolios, and decides on appropriate securities recommendations? A. ADV B. CRD C. IAR D. IARD ✔✔C 2 How are long stock positions and short stock positions generally viewed? A. Both are bearish B. Long is bearish, short is bullish C. Long is bullish, short is bearish D. Both are bullish ✔✔C How often does a mutual fund with a 20% turnover ratio update its entire portfolio? A. Annually B. Every two years C. Once every four years D. Every five years ✔✔D Which component of FINRA's Continuing Education Program is designed to address compliance, ethical behavior, and sales practices, drawing from industry regulations and best practices? 3 A. Compliance Training B. Firm Training C. Regulatory Training D. Both Regulato ry and Firm Training ✔✔C When a bond is traded above its face value, its yield to maturity (YTM) will generally be _____ compared to its coupon rate. Conversely, if a bond is traded below its face value, the YTM will be _____ than the coupon rate. A. higher, the same B. higher, lower C. lower, the same D. lower, higher ✔✔D Which agency is tasked by Congress with overseeing self -regulatory organizations (SR Os) to ensure they serve the public interest? A. FINRA B. MSRB 4 C. NASD D. SEC ✔✔D Which of the following is not classified as a security under the Uniform Securities Act? A. Bonds B. Precious metals C. Variable annuities D. Variable life insurance ✔✔B Which legislation required the SEC to consider the effects of new regulations on competition and allowed it to create a national market system and a nationwide system for clearing and settling securities transactions? A. Unif orm Securities Act of 1956 B. Securities Act Amendments of 1975 C. Uniform Prudent Investors Act of 1994 D. National Securities Market Improvement Act of 1996 ✔✔B
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