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SIE Chapter 17 Custom Exam 23 Questions with Verified Answers,100%CORRECT
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SIE Chapter 17 Custom Exam 23 Questions with Verified Answers
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SIE Chapter 17 Custom Exam 23 Questions with VerifiedAnswers
A registered person who is employed by a broker-dealer has committed an
offense that makes the person subject to statutory disqualification. The firm is
MOST likely to take which of the following actions?
A) No longer permit the person to be associated with the member firm
B) Permit the person to be associated with the member firm, but require
increased supervision
C) Permit the person to be associated with the member firm, but only in a non-
registered capacity
D) Permit the person to be associated with the member firm provided FINRA is
notified - CORRECT ANSWER A) No longer permit the person to be associated
with the member firm
As a general rule, any person who is subject to statutory disqualification may not
be associated with a FINRA member firm in any capacity, even in a non-registered
capacity. The firm is also required to report the event to FINRA. The member firm
may request an eligibility proceeding to determine whether the person can
remain in a registered capacity; however, there is no guarantee that the request
will be granted. If the employee is terminated, the firm will file a Form U5.
A person is subject to the Regulatory Element of Continuing Education:
A) If she has failed any qualification exam
B) On the second anniversary of her registration and every three years thereafter
C) Annually
D) Only if she has been subject to disciplinary action - CORRECT ANSWER B) On
the second anniversary of her registration and every three years thereafter
The Continuing Education Regulatory Element for registered personnel begins on
the second anniversary of her initial registration, and then is triggered every three
years thereafter. If representatives do not participate, their registration becomes
inactive. There is no graduation from the Regulatory Element.
, Which of the following descriptions BEST defines the Regulatory Element of
Continuing Education (CE)?
A) The requirement is triggered when a registered person violates industry rules.
B) It can be accomplished by attending a seminar given by your firm.
C) It ensures that registered persons are kept up-to-date on sales practices,
compliance, and regulatory matters.
D) It is a prerequisite for principal registration. - CORRECT ANSWER C) It ensures
that registered persons are kept up-to-date on sales practices, compliance, and
regulatory matters.
The Regulatory Element of CE is a compulsory requirement that must be met on
the second anniversary date of a registered representative's registration. It
continues at a three-year interval thereafter.
Which of the following employees of a broker-dealer is not required to be
fingerprinted?
A) A back office employee who handles customer funds.
B) A clerk who has access to records of original entry.
C) A senior officer of the firm who only provides capital to the firm.
D) A registered representative who processes trades in the back office. - CORRECT
ANSWER C) A senior officer of the firm who only provides capital to the firm.
According to SEC Rule 17-2, all partners, directors, officers and employees of
broker-dealers who are involved in the sale of securities, handling securities,
monies, or records of original entry, or supervise any of the above must be
fingerprinted. An officer of a firm who simply provides capital to the firm and is
not involved in the handling of funds and/or securities, or dealing with the firm's
books and records, is exempt from the fingerprinting requirement. (17583)
If a newly hired person is employed by a broker-dealer and will be offering
corporate securities, she can become FINRA registered by:
A) Passing the SIE Exam only
B) Passing the SIE Exam the Series 6 Exam
C) Passing the Series 6 Exam only
D) Passing the SIE Exam and the Series 7 Exam - CORRECT ANSWER D) Passing the
SIE Exam and the Series 7 Exam
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