SIE FINRA PRACTICE EXAM
QUESTIONS AND ANSWERS2
What is the cost basis of an inherited mutual fund? - ANSWERS-The net asset value (NAV) of the
shares when the owner dies
Under Federal Reserve Regulation T, a 90-day restriction is imposed when a customer opens and
closes which of the following positions - ANSWERS-the same stock in a cash account without
paying for the stock in full
An associated person who is not a registered representative is permitted to engage in which of
the following activities - ANSWERS-provide account opening forms to a new customer
UTMA accounts are opened under the tax ID of the - ANSWERS-minor
all of the following risks apply to both foreign and domestic debt instruments except -
ANSWERS-exchange
Which of the following actions violates FINRA rules regarding selling away - ANSWERS-engaging
in private securities transactions without written prior consent of employed BD
Which of the following Form U4 reportable events results in a statutory disqualification -
ANSWERS-A felony conviction for a driving under the influence (DUI) charge
Under the Securities Act of 1933, registration is required for which of the following securities -
ANSWERS-American Depository Receipts (ADRs)
QUESTIONS AND ANSWERS2
What is the cost basis of an inherited mutual fund? - ANSWERS-The net asset value (NAV) of the
shares when the owner dies
Under Federal Reserve Regulation T, a 90-day restriction is imposed when a customer opens and
closes which of the following positions - ANSWERS-the same stock in a cash account without
paying for the stock in full
An associated person who is not a registered representative is permitted to engage in which of
the following activities - ANSWERS-provide account opening forms to a new customer
UTMA accounts are opened under the tax ID of the - ANSWERS-minor
all of the following risks apply to both foreign and domestic debt instruments except -
ANSWERS-exchange
Which of the following actions violates FINRA rules regarding selling away - ANSWERS-engaging
in private securities transactions without written prior consent of employed BD
Which of the following Form U4 reportable events results in a statutory disqualification -
ANSWERS-A felony conviction for a driving under the influence (DUI) charge
Under the Securities Act of 1933, registration is required for which of the following securities -
ANSWERS-American Depository Receipts (ADRs)
