Exam (elaborations)
FINRA SIE Practice Exam Review 53 Questions with Verified Answers,100% CORRECT
- Course
- Institution
FINRA SIE Practice Exam Review 53 Questions with Verified Answers
[Show more]
Content preview
FINRA SIE Practice Exam Review 53 Questions with VerifiedAnswers
Direct Participation Programs (DPPs) provide: - CORRECT ANSWER exposure to
non-correlated assets with steady returns
Under Federal Reserve Regulation T, a 90-day restriction is imposed when a
customer opens and closes which of the following positions? - CORRECT ANSWER
The same stock in a cash account without paying for the stock in full
Under the securities act of 1933, registration is required for which of the following
securities - CORRECT ANSWER American Depository Receipts (ADRs)
A customer has a cash balance in her account together with long positions in
several securities. She has made no securities transactions in the account during
the past 18 months. How often must her firm send her and account statement? -
CORRECT ANSWER Quarterly
Under SEC Regulation S-P (Consumer Privacy), which of the following information
must a firm include in its customer privacy and opt-out notices? - CORRECT
ANSWER The policies that protect the security of non-public information
What action is required of a broker dealer's anti money laundering (AML)
program? - CORRECT ANSWER Designating an AML compliance officer
Which investment risk is the greatest risk in a variable life insurance policy -
CORRECT ANSWER Market risk
What consideration should a registered representative explain to a customer
when recommending a 529 college savings plan - CORRECT ANSWER potential
deductibility of contributions from state taxes
The redemption value of an open-end investment company's shares is based on
the: - CORRECT ANSWER NAV computed after the order is received
, Describe treasury stocks - CORRECT ANSWER They are issued stocks that have
been subsequently reacquired by the corporation
Call protection is most valuable to a bond owner when bond prices are generally:
- CORRECT ANSWER rising
An associated person who is not a registered representative is permitted to do
what? - CORRECT ANSWER Provide account opening forms to a new customer
Under normal circumstances, a customer's letter of intent on a mutual fund
purchase is valid for what maximum period of time? - CORRECT ANSWER 13
months
No-load mutual funds may have lower expense ratios than load mutual funds for
which of the following reasons? - CORRECT ANSWER No-load funds are not
permitted to charge a 12b-1 fee greater than 25 basis points
A registered representative wants to participate in a private securities
transaction. Which action must the RR take? - CORRECT ANSWER Send written
notice to his supervisor outlining the activity and compensation structure
When selling a fixed amount of a base currency to purchase a counter currency,
which factor is primarily used to determine how much of the counter currency the
customer will receive? - CORRECT ANSWER The spot exchange rate
Which stakeholder has first claim priority in a chapter 11 proceeding? - CORRECT
ANSWER secured debt holders
What is the cost basis of an inherited mutual fund - CORRECT ANSWER the NAV of
the shares when the owner dies
Which action would qualify as violating FINRA rules regarding selling away? -
CORRECT ANSWER Engaging in private securities transactions without written
prior consent of the employing BD
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller paulhans. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now