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SIE FINRA Exam Study Guide with Complete Solutions
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SIE FINRA Exam Study Guide with Complete Solutions The Federal regulatory body that governs the securities industry is: - Answer️️ -The SEC A fully disclosed BD: - Answer️️ -is an inducing firm clearing its transactions through a carrying firm An intermediary between the buy and sell ...

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  • September 25, 2024
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  • 2024/2025
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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

SIE FINRA Exam Study Guide with
Complete Solutions

The Federal regulatory body that governs the securities industry is: - Answer✔️✔️-The

SEC


A fully disclosed BD: - Answer✔️✔️-is an inducing firm clearing its transactions through a

carrying firm

An intermediary between the buy and sell sides of a transaction is known as -

Answer✔️✔️-a clearing agent

For the Depository Trust and Clearing Corporation (DTCC), all of the following are true

EXCEPT:



a. it is a member of the Federal Reserve System

b. It acts as a retail bank servicing savings and checking accounts

c. it serves for the purpose of providing custody of securities

d. it is a worldwide clearing agent - Answer✔️✔️-b. it acts as a retail bank servicing

savings and checking accounts

Your BD acts as a prime broker for an institutional account. In this arrangement, your

BD is likely to be providing which of the following services? - Answer✔️✔️-clearing and

transaction settlement services for executing brokers


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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
An individual or institution willing to hold securities positions in its own proprietary

account for the purpose of providing liquidity to the marketplace is - Answer✔️✔️-a

market maker

An entity such as a corporation wishing to offer securities for sale to the public for the

purpose of raising capital is - Answer✔️✔️-an issuer

A nonprofit organization requiring members to pay assessments into a general

insurance fund used to meet customer claims in the event of a BD bankruptcy is -

Answer✔️✔️-the Securities Investors Protection Corporation (SIPC)

The FDIC provides insurance guaranteeing the safety of a depositor's accounts in FDIC

member banks for each deposit up to: - Answer✔️✔️-$250,000

Determining monetary policy and taking actions to implement those policies is the

responsibility of - Answer✔️✔️-the Federal Reserve Board (FRB)

The Magnolia Steel Corporation needs to build a refinery plant. It is estimated to cost

$750 million to complete. What market can be used to raise the money needed to build

the new plant? - Answer✔️✔️-Secondary Market

When securities are sold to the investing public in what are known as issuer

transactions, the transactions are being done in: - Answer✔️✔️-the primary market

If an investment company bought stock directly from a bank, bypassing any

intermediary or broker, this trade took place in - Answer✔️✔️-the fourth market

Which of the following statements regarding the third market is TRUE?


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,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024



a. it refers to trading of unlisted stocks directly between institutional investors

b. the services of a broker acting as an agent or intermediary are not used

c. It is composed of listed securities traded OTC

d. it is composed only of unlisted securities - Answer✔️✔️-c. It is composed of listed

securities traded OTC

An investor enters an order to purchase shares of XYZ stock. Another investor enters

an order to sell XYZ stock. These two orders meet on the floor of a US Stock Exchange

where they are executed. This transaction too place in: - Answer✔️✔️-the secondary

market

Assuming all other factors to remain constant, an increase in imports would most likely

cause GDP to - Answer✔️✔️-decrease

Which state of the business cycle is characterized by rising interest rates and higher

wages? - Answer✔️✔️-Expansion

An economic environment with little or no economic growth, but where inflation is

present, is best described as - Answer✔️✔️-Stagflation

It is generally agreed that the two primary policies impacting the U.S. economy are

fiscal and monetary. Which of the following would be considered tools of fiscal policy?



I. Government Spending

II. Operations of the Federal Open Market Committee (FOMC)

3/201

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
III. Changing the reserve requirements

IV. Taxation - Answer✔️✔️-Government Spending and Taxation

Which of the following is added to M2 to arrive at M3? - Answer✔️✔️-$100,000 and larger

time deposits

Which of the following actions of the Federal Reserve Board (FRB) would likely have

the effect of causing interest rates to increase?



I. The FOMC buying securities

II. Raising the reserve requirements

III. Raising the discount rate

IV. Raising the prime rate - Answer✔️✔️-Raising the reserve requirements & Raising the

discount rate

Economic data shows that the GDP has been declining steadily over the past two

quarters. This would suggest - Answer✔️✔️-a recession

All of the following would be considered a defensive industry security EXCEPT:



A. Tobacco stock

B. Food chain stock

C. Steel company stock

D. Utility company stock - Answer✔️✔️-steel company stock

Which of the following would be a leading economic indicator?

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