SIE COMPREHENSIVE EXAM STUDY GUIDE
TEST PAPER QUESTIONS AND SOLUTIONS
2026
◉ At the time of "when and as if issued" trade the:
I Amount of accrued interest due to the under writer is known
II Amount of accrued interest due to the underwriters is not known
III Settlement date is known
IV Settlement date is not known
Answer: II and IV
Interest due is now known
Settlement date is not known
◉ Which of the following are defined as investment companies
under the Investment Company Act of 1940
, Answer: 1) Management Company
2) Unit Investment Trust
3) Face Amount Certificate Company
( Real Estate Investment Trust are not considered under this act)
◉ Constitutional Debt Limits are imposed on the issuance of?
Answer: General Obligation bonds
(Moral obligation bonds are not subject to debt limits they are
issued in desperation)
◉ Which of the following pay dividends?
I Warrants
II ADR's
III Preferred Stocks
TEST PAPER QUESTIONS AND SOLUTIONS
2026
◉ At the time of "when and as if issued" trade the:
I Amount of accrued interest due to the under writer is known
II Amount of accrued interest due to the underwriters is not known
III Settlement date is known
IV Settlement date is not known
Answer: II and IV
Interest due is now known
Settlement date is not known
◉ Which of the following are defined as investment companies
under the Investment Company Act of 1940
, Answer: 1) Management Company
2) Unit Investment Trust
3) Face Amount Certificate Company
( Real Estate Investment Trust are not considered under this act)
◉ Constitutional Debt Limits are imposed on the issuance of?
Answer: General Obligation bonds
(Moral obligation bonds are not subject to debt limits they are
issued in desperation)
◉ Which of the following pay dividends?
I Warrants
II ADR's
III Preferred Stocks
