FINRA SIE TEST PAPER PRACTICE 75
QUESTIONS WITH COMPLETE SOLUTIONS
2026 GRADED A+
⩥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.
Answer: 30/360
⩥Blue-sky laws are regulated by which of the following entities?
SEC
MSRB
FINRA
state securities regulators.
Answer: State securities regulators
⩥At the time of issuance, which of the following securities normally has
the longest period to expiration?
Rights
,Options
Warrants
Repurchase agreements.
Answer: Warrants
⩥Regular way settlement on Treasury Bonds is:
same day
next business day
second business day
fifth business day.
Answer: 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..
Answer: 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?
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.
Answer: the policies to protect the security of nonpublic information
⩥UTMA accounts are opened under the tax ID number of the:
minor
donor
parent
custodian.
Answer: minor
⩥Under FINRA rules, noncash compensation connected with the sale of
variable contracts includes all of the following items EXCEPT:
gifts
meals
lodging
commissions.
Answer: commissions
QUESTIONS WITH COMPLETE SOLUTIONS
2026 GRADED A+
⩥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.
Answer: 30/360
⩥Blue-sky laws are regulated by which of the following entities?
SEC
MSRB
FINRA
state securities regulators.
Answer: State securities regulators
⩥At the time of issuance, which of the following securities normally has
the longest period to expiration?
Rights
,Options
Warrants
Repurchase agreements.
Answer: Warrants
⩥Regular way settlement on Treasury Bonds is:
same day
next business day
second business day
fifth business day.
Answer: 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..
Answer: 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?
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.
Answer: the policies to protect the security of nonpublic information
⩥UTMA accounts are opened under the tax ID number of the:
minor
donor
parent
custodian.
Answer: minor
⩥Under FINRA rules, noncash compensation connected with the sale of
variable contracts includes all of the following items EXCEPT:
gifts
meals
lodging
commissions.
Answer: commissions
