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FINRA SIE EXAM VERSION A, B & PRACTICE EXAM
LATEST UPDATE THIS YEAR ALL 500 QUESTIONS
AND CORRECT DETAILED ANSWERS - JUST
RELEASED
CONTENTS
➢ FINRA SIE EXAM A
➢ FINRA SIE EXAM B
➢ FINRA SIE PRACTICE EXAM
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FINRA SIE EXAM A
QUESTION: A company that has issued noncumulative preferred stock A) pays the preferred
dividend before paying the interest due on its outstanding bonds.
B) pays current preferred dividends before paying dividends on common stock. ✅
C) pays in arrears and current dividends on the preferred before paying a dividend on the
common.
D) forces conversion of the preferred that is trading at a discount to par, thereby eliminating
the need to pay past-due dividends.
QUESTION: When a broker-dealer pledges customer securities to a bank as collateral for a
margin loan, the pledge is known as A) credit agreement.
B) loan consent.
C) rehypothecation. ✅
D) hypothecation.
QUESTION: One of the Financial Industry Regulatory Authority (FINRA) Conduct Rules is
concerned with private securities transactions. Under that rule, it would be correct to state that
2
,Page 3 of 133
I. if the member approves the registered representative participating in a transaction for
compensation, it must treat the transaction as if it is being done on its own behalf by entering
the transaction on its own books and supervising the associated person during the transaction.
II. as long as no compensation to the registered representative is involved, notification to the
member is not required.
III. sale of a securities product to the registered representative's mother where there is only
nominal compensation is not covered under the rule.
IV. if the member disapproves of the registered representative's participation in a transaction
for compensation, the associated person may not participate in it. A) I and II
B) II and III ✅
C) III and IV
D) I and IV
Your client, Sophia, retired from her job five years ago and placed all of the proceeds of her
401(k) distribution into a rollover IRA at a local bank. If Sophia wishes to transfer the funds to
an IRA at your broker-dealer, which of the following statements would be true? A) There is no
limit to the number of transfers per year between custodians. ✅
B) A transfer of this type is not permitted.
C) Mandatory tax withholding applies to trustee-to-trustee transfers.
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D) A transfer of this type will incur a 10% penalty.
QUESTION: Put buyers are A) both bullish and bearish.
B) bearish. ✅
C) neither bullish nor bearish.
D) bullish.
QUESTION: For nonexempt securities being offered to the public for the first time by a
corporate issuer, which of the following would be applicable? A) Securities Act of 1934
regulating issues that must be offered by prospectus
B) Securities Act of 1934 regulating securities that must be offered by prospectus
C) Securities Act of 1933 regulating issues that must be offered by prospectus ✅
D) Securities Act of 1933 regulating securities traded in the secondary market
QUESTION: Which of the following is considered a benefit for broker-dealers offering margin
accounts to their customers? A) The ability to accommodate more conservative clients
B) The additional income generated from the payment of margin interest ✅
C) The ability to pledge customer securities for loans
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