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FINRA SIE Practice Exam 150 Questions with Verified Answers,100% CORRECT
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FINRA SIE Practice Exam 150 Questions with Verified Answers
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FINRA SIE Practice Exam 150 Questions with VerifiedAnswers
When is interest on Treasury notes paid?
A.) Quarterly
B.) Semiannually
C.) Annually
D.) At maturity - CORRECT ANSWER B.) Semi-annually
The computation of dollar prices and accrued interest on municipal bonds is
normally on what calendar basis?
A.) 30/360
B.) 30/365
C.) Actual/360
D.) Actual/365 - CORRECT ANSWER A.) 30/360
Which of the following security types provides investors with a stated maturity
date, a floating interest rate, and an option to put the security back to a financial
intermediary on a daily or weekly basis?
A.) Equity put option
B.) Perpetual preferred stock
C.) Variable rate demand note
D.) Tax-deferred variable annuity - CORRECT ANSWER C.) Variable rate demand
note
Which of the following products is adversely impacted if the issuer's credit rating
is downgraded?
A.) Mutual funds
B.) Unit Investment Trusts (UITs)
C.) Exchange-traded funds (ETFs)
,D.) Exchange-traded notes (ETNs) - CORRECT ANSWER D.) Exchange-traded notes
(ETNs)
Which of the following Form U4 reportable events results in a statutory
disqualification?
A.) A personal bankruptcy filing
B.) A written customer complaint alleging misappropriation of assets
C.) A felony theft charge
D.) A felony conviction for driving under the influence (DUI) charge - CORRECT
ANSWER D.) A felony conviction for driving under the influence (DUI) charge
Which of the following statements is true regarding a customer account held as
tenants in common?
A.) The owners must equally share the assets
B.) The ownership of the decedent's assets is governed by their will or state law
C.) Tenants in common is permitted for use only for two individuals
D.) Tenants in common is permitted for use only for married couples or family
members - CORRECT ANSWER B.) The ownership of the decedent's assets is
governed by their will or state law
Which of the following outcomes are possible for the writer of a covered call
option?
A.) Profit limited and loss limited
B.) Profit limited and loss unlimited
C.) Profit unlimited and loss limited
D.) Profit unlimited and loss unlimited - CORRECT ANSWER A.) Profit limited and
loss limited
Which of the following statements is true about all U.S. government agency
issues?
A.) They are exempt from federal taxes
B.) They are exempt from registration under the Securities Act of 1933.
C.) They are issued in the bearer form only
, D.) They are general obligations of the federal government - CORRECT ANSWER
B.) They are exempt from registration under the Securities Act of 1933.
Under industry regulations, an initial purchase of $3,000 of common stock in a
margin account requires a cash deposit of:
A.) $750
B.) $1,500
C.) $2,000
D.) $3,000 - CORRECT ANSWER C.) $2,000
Blue-sky laws are regulated by which of the following entities?
A.) SEC
B.) MSRB
C.) FINRA
D.) State securities regulators - CORRECT ANSWER D.) State securities regulators
Call protection is most valuable to a bond owner when bond prices are generally:
A.) Rising
B.) Falling
C.) Stable
D.) Fluctuating - CORRECT ANSWER A.) Rising
Under FINRA rules, which of the following activities by a registered representative
requires written notification to her firm?
A.) Volunteering as a youth soccer league coach
B.) Gambling resulting in winnings in excess of $10,000
C.) Driving part time for a transportation network company on weekends
D.) Selling nonproprietary investment company securities products through her
firm - CORRECT ANSWER C.) Driving part time for a transportation network
company on weekends
To offer its shareholders a privilege to obtain its shares at a fixed price, which of
the following products does a corporation issue?
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