FINRA SIE Exam
Which stakeholder has first claim priority in a Chapter 11 proceeding? - Answer
Secured Debt Holders
What is a firm required to do when receiving cash in excess of $10,000 from one
customer in one business day? - Answer File a Currency Transaction Report
If a registered representative drives UBER part time, what is required? - Answer They
must provide written notification to the firm as mandated by FINRA.
A customer has a cash balance in her account with long positions in several securities.
She has made no transactions in 18 months. How often must the firm send her account
statement? - Answer Quarterly
The redemption value of an open-end investment company's shares is based on what?
- Answer NAV computed after the order was received.
When is call protection most valuable to a bond owner? - Answer when bond prices are
rising
UTMA accounts are opened under the tax ID of who? - Answer the minor
What program provides exposure to non-correlated assets with steady returns? -
Answer DPP (direct participation programs)
At expiration, all in-the-money S&P Index calls are settled by the delivery of what? -
Answer CASH. It's like way easier, homie.
Regular way settlement on a Treasury Bond is - Answer next business day (same for all
government securities)
What feature is shared between Roth 401k and Roth IRA - Answer Qualified
distributions are excluded from federal income tax
What investment company security is negatively impacted if the issuer's credit rating is
downgraded? - Answer ETN
A firm agrees to repurchase shares at the original sales price in a public offering as a
means to sell more securities. This is: - Answer prohibited. It is fraudulent and
manipulative.
Who regulates Blue-Sky Laws? - Answer State securities regulators.
Which stakeholder has first claim priority in a Chapter 11 proceeding? - Answer
Secured Debt Holders
What is a firm required to do when receiving cash in excess of $10,000 from one
customer in one business day? - Answer File a Currency Transaction Report
If a registered representative drives UBER part time, what is required? - Answer They
must provide written notification to the firm as mandated by FINRA.
A customer has a cash balance in her account with long positions in several securities.
She has made no transactions in 18 months. How often must the firm send her account
statement? - Answer Quarterly
The redemption value of an open-end investment company's shares is based on what?
- Answer NAV computed after the order was received.
When is call protection most valuable to a bond owner? - Answer when bond prices are
rising
UTMA accounts are opened under the tax ID of who? - Answer the minor
What program provides exposure to non-correlated assets with steady returns? -
Answer DPP (direct participation programs)
At expiration, all in-the-money S&P Index calls are settled by the delivery of what? -
Answer CASH. It's like way easier, homie.
Regular way settlement on a Treasury Bond is - Answer next business day (same for all
government securities)
What feature is shared between Roth 401k and Roth IRA - Answer Qualified
distributions are excluded from federal income tax
What investment company security is negatively impacted if the issuer's credit rating is
downgraded? - Answer ETN
A firm agrees to repurchase shares at the original sales price in a public offering as a
means to sell more securities. This is: - Answer prohibited. It is fraudulent and
manipulative.
Who regulates Blue-Sky Laws? - Answer State securities regulators.
