FINRA
FINRA Practice SIE Exam With
Complete Solutions Latest Update
2024
The redemption value of an open-end investment company's
shares is based on the:
previous offering price
previous closing NAV
NAV computed after the order is received
offering price computed after the order is received - correct
answers NAV computed after the order is received
The computation of dollar prices and accrued interest on
municipal bonds is normal on what calendar basis?
30/360
30/365
Actual/360
Actual/365 - correct answers 30/360
Blue-sky laws are regulated by which of the following entities?
SEC
MSRB
FINRA
state securities regulators - correct answers State securities
regulators
FINRA Practice SIE Exam With Complete Solutions Latest Update 2024
,FINRA
At the time of issuance, which of the following securities normally
has the longest period to expiration?
Rights
Options
Warrants
Repurchase agreements - correct answers Warrants
Regular way settlement on Treasury Bonds is:
same day next
business day
second business
day
fifth business day - correct answers next business day
A firm is a participant in a public offering. To sell a substantial
amount of the securities to its customers, the firm agrees to
repurchase the shares at no less than the original sales price.
Such agreements are: prohibited as fraudulent and
manipulative.
Permissible if the securities are deposited into escrow.
prohibited unless the firm immediately sets aside funds for the
repurchase permissible if the customers retain the right to sell
the securities into the open market. - correct answers
prohibited as fraudulent and manipulative
Under SEC S-P (Consumer Privacy), which of the following
information must a firm include in its customer privacy and opt-
out notices?
FINRA Practice SIE Exam With Complete Solutions Latest Update 2024
, FINRA
the address of the firm's website
the fee to opt out from the privacy
program the deadline by which to
opt out from the privacy program
the policies to protect the security of nonpublic information -
correct answers the policies to protect the security of nonpublic
information
UTMA accounts are opened under the tax ID number of the:
minor
donor
parent
custodian - correct answers minor
Under FINRA rules, noncash compensation connected with the
sale of variable contracts includes all of the following items
EXCEPT:
gifts
meals
lodging
commissions - correct answers commissions
Describe the difference between primary distribution and
secondary distribution. - correct answers a primary distribution
involves a sale of newly issued shares by the issuer while a
secondary distribution involves the sale of already issued and
outstanding shares
FINRA Practice SIE Exam With Complete Solutions Latest Update 2024
FINRA Practice SIE Exam With
Complete Solutions Latest Update
2024
The redemption value of an open-end investment company's
shares is based on the:
previous offering price
previous closing NAV
NAV computed after the order is received
offering price computed after the order is received - correct
answers NAV computed after the order is received
The computation of dollar prices and accrued interest on
municipal bonds is normal on what calendar basis?
30/360
30/365
Actual/360
Actual/365 - correct answers 30/360
Blue-sky laws are regulated by which of the following entities?
SEC
MSRB
FINRA
state securities regulators - correct answers State securities
regulators
FINRA Practice SIE Exam With Complete Solutions Latest Update 2024
,FINRA
At the time of issuance, which of the following securities normally
has the longest period to expiration?
Rights
Options
Warrants
Repurchase agreements - correct answers Warrants
Regular way settlement on Treasury Bonds is:
same day next
business day
second business
day
fifth business day - correct answers next business day
A firm is a participant in a public offering. To sell a substantial
amount of the securities to its customers, the firm agrees to
repurchase the shares at no less than the original sales price.
Such agreements are: prohibited as fraudulent and
manipulative.
Permissible if the securities are deposited into escrow.
prohibited unless the firm immediately sets aside funds for the
repurchase permissible if the customers retain the right to sell
the securities into the open market. - correct answers
prohibited as fraudulent and manipulative
Under SEC S-P (Consumer Privacy), which of the following
information must a firm include in its customer privacy and opt-
out notices?
FINRA Practice SIE Exam With Complete Solutions Latest Update 2024
, FINRA
the address of the firm's website
the fee to opt out from the privacy
program the deadline by which to
opt out from the privacy program
the policies to protect the security of nonpublic information -
correct answers the policies to protect the security of nonpublic
information
UTMA accounts are opened under the tax ID number of the:
minor
donor
parent
custodian - correct answers minor
Under FINRA rules, noncash compensation connected with the
sale of variable contracts includes all of the following items
EXCEPT:
gifts
meals
lodging
commissions - correct answers commissions
Describe the difference between primary distribution and
secondary distribution. - correct answers a primary distribution
involves a sale of newly issued shares by the issuer while a
secondary distribution involves the sale of already issued and
outstanding shares
FINRA Practice SIE Exam With Complete Solutions Latest Update 2024
