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STC SIE Chapter 17 Questions &Exam (elaborations) answers 100% satisfaction guarantee
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STUVIA 2024/2025STC SIE Chapter 17
- ✔✔Who supervises a registered representative (RR)?
180 - ✔✔If a trainee fails a FINRA exam on the third attempt, he must wait ___ days to re-test.
30 - ✔✔Candidates who have failed a qualification exam once must wait ___ days before retaking
the exam.
30 - ✔✔If a trainee fails a FINRA exam on the first attempt, he must wait __ days to re-test.
A system that pools information concerning the employment and disciplinary histories of registered
persons - ✔✔What is the CRD system?
After the third unsuccessful attempt, the waiting period is 180 days after each additional attempt. -
✔✔If a qualification exam has been failed for the third time, what waiting period applies?
Annually - ✔✔How often are firms required to evaluate their training needs?
Annually - ✔✔How often must a BD's Firm Element Continuing Education program be reevaluated?
%
Annually by Dec 31 - ✔✔When must a registered person complete the Regulatory Element of the CE
requirement?
Annually by December 31 - ✔✔When must RRs complete the Regulatory Element of Continuing
Education?
Both a life insurance license and FINRA Series 6 or 7 license is required - ✔✔What licenses are
required for an agent to sell variable annuities or variable life?
CE Inactive - ✔✔Registration status becomes __________ if the Regulatory Element of CE is not
completed within the prescribed period.
Central Registration Depository - ✔✔Identify the acronym: CRD
Client on-boarding, receive and deliver funds and/or securities, settling and filing financial regulatory
reports - ✔✔If an employee is qualified with a Series 99, what can she do?
Conviction for any felony or securities-related misdemeanor within the last 10 years - ✔✔What are
the justifiable reasons for denying an individual's registration?
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Corporate stocks, bonds, and options, investment companies (mutual funds), variable annuities,
DPPs, and 529 plans - ✔✔If an employee is qualified with a Series 7, what can she sell?
December 31 - ✔✔On an annual basis, when are representatives required to complete the
Regulatory Element of continuing education?
December 31 of the current year - ✔✔A person has been registered for nine years. When is she
subject to her next Regulatory Element of continuing education?
Direct Participation Programs (DPPs) - ✔✔If an employee is qualified with a Series 22, what can he
sell?
Ensuring that the RR is properly registered in the new state (Uniform Securities Act) - ✔✔What is an
RR's concern if her client moves to a new state?
False, a Financial and Operations Principal performs that function. - ✔✔True or False: A general
securities principal is responsible for financial reporting.
False. All registered personnel must complete the Regulatory Element of continuing education
%
annually by December 31. - ✔✔True or False: A registered person with no disciplinary actions for 15
years is excused from the Regulatory Element.
False. An RR who served in the military is put into special inactive status and is not require to retest. -
✔✔True or False: An RR who served in the military must retake the Series 7 when he rejoins his
broker-dealer.
False. Any individuals handling funds or securities are required to be fingerprinted. - ✔✔True or
False: Only registered personnel are required to be fingerprinted.
False. Candidates also need to pass another exam (e.g., Series 7) based on their job responsibilities.
- ✔✔True or False: By passing the SIE Exam, an individual is permitted to act as a registered
representative.
False. Clerical employees are not fingerprinted if they do not handle customer accounts, assets, or
books and records. - ✔✔True or False: All employees of a BD are required to be fingerprinted.
False. Municipal representatives may only sell individual municipal bonds. - ✔✔True or False:
Municipal securities representatives may sell municipal bond funds.
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