SIE Exam (Kaplan) with all Correct & 100% Verified
Answers |Latest Version |Guaranteed to Pass
Anyone making call cold calls for the firm must disclose ✔Correct Answer-The reps name and
the firms name, address, and phone number
What customer info must be kept on record for 6 years? ✔Correct Answer-Customer
statements and new account forms
A customer of a securities firm has concluded that selling short would be an effective trading
technique to reach his investment goals. Assuming the firm's principal agrees to permit the
customer to effect short sales, what type of account would be most suitable for short selling?
✔Correct Answer-Margin account b/c must satisfy FRB margin requirements to short sell
Fiduciary Account ✔Correct Answer-A fiduciary is a person who acts on behalf of another
person and can initiate trades (trust, guardian, and custodial accs)
What are the types of systematic risk? ✔Correct Answer-Market risk, interest rate risk,
exchange rate risk, inflation (purchase power) risk
It would be expected that a repurchase (repo) agreement contract would include ✔Correct
Answer-The repurchase price and the maturity date
When opening an account for a corporation, one of the required documents is a corporate
resolution. Who makes the resolution? ✔Correct Answer-The BOD's
Selling long is equivalent to which of the following? ✔Correct Answer-When a customer owns
a position and then sells that position, that is referred to as selling long or selling to close
What happens to the contents of a custodial account in the event of the death of the beneficial
owner (the minor child)? ✔Correct Answer-The custodian's fiduciary responsibility ceases and
the account passes on to the minor's estate
What are considered passive investments? ✔Correct Answer-real estate investments and
limited partnership (DPP) investments
losses only deductible against other passive income
What do mutual funds and common stock have in common? ✔Correct Answer-Investors
retain voting rights
How long are Series 6/7 good for if inactive? SIE exam? ✔Correct Answer-within 2 years and
within 4 years
Answers |Latest Version |Guaranteed to Pass
Anyone making call cold calls for the firm must disclose ✔Correct Answer-The reps name and
the firms name, address, and phone number
What customer info must be kept on record for 6 years? ✔Correct Answer-Customer
statements and new account forms
A customer of a securities firm has concluded that selling short would be an effective trading
technique to reach his investment goals. Assuming the firm's principal agrees to permit the
customer to effect short sales, what type of account would be most suitable for short selling?
✔Correct Answer-Margin account b/c must satisfy FRB margin requirements to short sell
Fiduciary Account ✔Correct Answer-A fiduciary is a person who acts on behalf of another
person and can initiate trades (trust, guardian, and custodial accs)
What are the types of systematic risk? ✔Correct Answer-Market risk, interest rate risk,
exchange rate risk, inflation (purchase power) risk
It would be expected that a repurchase (repo) agreement contract would include ✔Correct
Answer-The repurchase price and the maturity date
When opening an account for a corporation, one of the required documents is a corporate
resolution. Who makes the resolution? ✔Correct Answer-The BOD's
Selling long is equivalent to which of the following? ✔Correct Answer-When a customer owns
a position and then sells that position, that is referred to as selling long or selling to close
What happens to the contents of a custodial account in the event of the death of the beneficial
owner (the minor child)? ✔Correct Answer-The custodian's fiduciary responsibility ceases and
the account passes on to the minor's estate
What are considered passive investments? ✔Correct Answer-real estate investments and
limited partnership (DPP) investments
losses only deductible against other passive income
What do mutual funds and common stock have in common? ✔Correct Answer-Investors
retain voting rights
How long are Series 6/7 good for if inactive? SIE exam? ✔Correct Answer-within 2 years and
within 4 years
