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SIE Exam Lesson 13: FINRA Registration Questions and Answers 100% Pass
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SIE Exam Lesson 13: FINRA Registration Questions and Answers 100% Pass What entities does the SEC regulate? - ️️ Correct-FINRA, MSRB, Federal Covered Investment Advisors Who does FINRA regulate? - ️️ Correct-Broker Dealers & Registered Reps Who does the MSRB regulate? Does the MSRB en...

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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 Exam Lesson 13: FINRA Registration
Questions and Answers \ 100% Pass

What entities does the SEC regulate? - ✔️✔️Correct-FINRA, MSRB, Federal Covered

Investment Advisors


Who does FINRA regulate? - ✔️✔️Correct-Broker Dealers & Registered Reps

Who does the MSRB regulate? Does the MSRB enforce its own rules? - ✔️✔️Correct-

Municipal securities firms and their professionals, but not the issuers of Muni securities.



Enforcement and inspection for compliance with MSRB rules is done by the SEC and

FINRA for brokerage firms and by the FRB, FDIC, and the Office of the Comptroller of

the Currency for dealer banks.

Explain the registered rep registration process - ✔️✔️Correct-Must first take the SIE

Exam, then you can get hired and fill out a u4 form. After this you take a series exam

depending on which area of finance you are going into. Then you become a registered

rep.

What is U4? - ✔️✔️Correct-U4 associates you with a firm. It details information about

employment history, educational background, residential history, fingerprints, etc




1/10

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Also has information about self reported customer complaints, certain legal litagation,

etc

What is U5? - ✔️✔️Correct-A form you fill out after you have been terminated / leave a

firm.



Includes reason for termination.



After you fill out your U5, you fill out a U4 if you go on to join another firm

How long are you allowed to be away from a FINRA affiliated firm before your SIE

credential expires? - ✔️✔️Correct-4 years

How long are you allowed to be away from a FINRA affiliated firm before your top-off

series exam credential(s) expires? - ✔️✔️Correct-2 years

What is BrokerCheck? - ✔️✔️Correct-A database that contains background information

like registration, employment, disciplinary history on all brokers, advisers, and

investment firms that are regulated by FINRA. Contains employment history, licensing

info, complaints.



Brokers must give annual notification to customers about BrokerCheck hotline, FINRA

website.



Also contains information on Bankruptcy proceedings within the last 10 years

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