STC SIE Chapter 17 Exam Questions and Answers Rated A+
Direct Participation Programs (DPPs) - Answers If an employee is qualified with a Series 22, what can he
sell?
Both a life insurance license and FINRA Series 6 or 7 license is required - Answers What licenses are
required for an agent to sell variable annuities or variable life?
True - Answers True or False: Every registered employee must be assigned to a principal
She falls under the special inactive status designation. - Answers If a registered person joins the military,
what is her registration status?
False. The content of the exam is confidential. - Answers True or False: It is acceptable to disclose the
content of a qualifying exam to a co-worker.
Conviction for any felony or securities-related misdemeanor within the last 10 years - Answers What are
the justifiable reasons for denying an individual's registration?
False, a Financial and Operations Principal performs that function. - Answers True or False: A general
securities principal is responsible for financial reporting.
CE Inactive - Answers Registration status becomes __________ if the Regulatory Element of CE is not
completed within the prescribed period.
Private placements as part of a primary offering - Answers If an employee is qualified with a Series 82,
what can he sell?
True. The FINOP is responsible for operations department activities and the preparation of financial
reports. - Answers True or False: The FINOP is responsible for the accuracy and final approval of a BD's
financial reports.
False. Clerical employees are not fingerprinted if they do not handle customer accounts, assets, or books
and records. - Answers True or False: All employees of a BD are required to be fingerprinted.
December 31 of the current year - Answers A person has been registered for nine years. When is she
subject to her next Regulatory Element of continuing education?
Salespersons, employees who handle money or securities, and anyone who deals with records of
original entry - Answers List the broker-dealer employees who need to be fingerprinted.
False. An RR who served in the military is put into special inactive status and is not require to retest. -
Answers True or False: An RR who served in the military must retake the Series 7 when he rejoins his
broker-dealer.
, True. The FINOP may be either full-time or part-time, but is solely responsible for the financial
management of a BD. - Answers True or False: The FINOP is an employee who is solely responsible for
the financial management of a BD.
Client on-boarding, receive and deliver funds and/or securities, settling and filing financial regulatory
reports - Answers If an employee is qualified with a Series 99, what can she do?
After the third unsuccessful attempt, the waiting period is 180 days after each additional attempt. -
Answers If a qualification exam has been failed for the third time, what waiting period applies?
Sales Training - Answers What training would NOT be applicable for a BD's Firm Element program?
False. Candidates also need to pass another exam (e.g., Series 7) based on their job responsibilities. -
Answers True or False: By passing the SIE Exam, an individual is permitted to act as a registered
representative.
Officers, directors, partners, branch managers, and employees who are engaged in sales or investment
banking - Answers Who meets FINRA's definition of associated person?
Firm Element continuing education is subject to recordkeeping to show completion, but not filing with
FINRA. - Answers Firm Element continuing education is subject to ______________ to show completion,
but not ________ with FINRA.
Annually by Dec 31 - Answers When must a registered person complete the Regulatory Element of the
CE requirement?
Only if the product is being sold in a primary (new issue) distribution. - Answers May a Series 6
registered person engage in the sale of closed-end funds?
true - Answers True or False: Firm Element Continuing Education requires BDs to update employees on
job and product-related subjects.
30 - Answers If a trainee fails a FINRA exam on the first attempt, he must wait __ days to re-test.
He can run a broker-dealer's proprietary trading (e.g., a broker-dealer making a market on Nasdaq or the
OTC markets). - Answers If an employee is qualified with a Series 57, what can he do?
- Answers Who supervises a registered representative (RR)?
The Series 9/10 or 24 the registrations required for supervising registered representatives. - Answers
What is the purpose for obtaining a Series 9/10 or Series 24 registration?
Finger Printed - Answers A registered employee of a BD is required to be ______________.
Series 6 Series 7 - Answers What two types of securities registrations would allow an individual to offer
variable annuities?
Direct Participation Programs (DPPs) - Answers If an employee is qualified with a Series 22, what can he
sell?
Both a life insurance license and FINRA Series 6 or 7 license is required - Answers What licenses are
required for an agent to sell variable annuities or variable life?
True - Answers True or False: Every registered employee must be assigned to a principal
She falls under the special inactive status designation. - Answers If a registered person joins the military,
what is her registration status?
False. The content of the exam is confidential. - Answers True or False: It is acceptable to disclose the
content of a qualifying exam to a co-worker.
Conviction for any felony or securities-related misdemeanor within the last 10 years - Answers What are
the justifiable reasons for denying an individual's registration?
False, a Financial and Operations Principal performs that function. - Answers True or False: A general
securities principal is responsible for financial reporting.
CE Inactive - Answers Registration status becomes __________ if the Regulatory Element of CE is not
completed within the prescribed period.
Private placements as part of a primary offering - Answers If an employee is qualified with a Series 82,
what can he sell?
True. The FINOP is responsible for operations department activities and the preparation of financial
reports. - Answers True or False: The FINOP is responsible for the accuracy and final approval of a BD's
financial reports.
False. Clerical employees are not fingerprinted if they do not handle customer accounts, assets, or books
and records. - Answers True or False: All employees of a BD are required to be fingerprinted.
December 31 of the current year - Answers A person has been registered for nine years. When is she
subject to her next Regulatory Element of continuing education?
Salespersons, employees who handle money or securities, and anyone who deals with records of
original entry - Answers List the broker-dealer employees who need to be fingerprinted.
False. An RR who served in the military is put into special inactive status and is not require to retest. -
Answers True or False: An RR who served in the military must retake the Series 7 when he rejoins his
broker-dealer.
, True. The FINOP may be either full-time or part-time, but is solely responsible for the financial
management of a BD. - Answers True or False: The FINOP is an employee who is solely responsible for
the financial management of a BD.
Client on-boarding, receive and deliver funds and/or securities, settling and filing financial regulatory
reports - Answers If an employee is qualified with a Series 99, what can she do?
After the third unsuccessful attempt, the waiting period is 180 days after each additional attempt. -
Answers If a qualification exam has been failed for the third time, what waiting period applies?
Sales Training - Answers What training would NOT be applicable for a BD's Firm Element program?
False. Candidates also need to pass another exam (e.g., Series 7) based on their job responsibilities. -
Answers True or False: By passing the SIE Exam, an individual is permitted to act as a registered
representative.
Officers, directors, partners, branch managers, and employees who are engaged in sales or investment
banking - Answers Who meets FINRA's definition of associated person?
Firm Element continuing education is subject to recordkeeping to show completion, but not filing with
FINRA. - Answers Firm Element continuing education is subject to ______________ to show completion,
but not ________ with FINRA.
Annually by Dec 31 - Answers When must a registered person complete the Regulatory Element of the
CE requirement?
Only if the product is being sold in a primary (new issue) distribution. - Answers May a Series 6
registered person engage in the sale of closed-end funds?
true - Answers True or False: Firm Element Continuing Education requires BDs to update employees on
job and product-related subjects.
30 - Answers If a trainee fails a FINRA exam on the first attempt, he must wait __ days to re-test.
He can run a broker-dealer's proprietary trading (e.g., a broker-dealer making a market on Nasdaq or the
OTC markets). - Answers If an employee is qualified with a Series 57, what can he do?
- Answers Who supervises a registered representative (RR)?
The Series 9/10 or 24 the registrations required for supervising registered representatives. - Answers
What is the purpose for obtaining a Series 9/10 or Series 24 registration?
Finger Printed - Answers A registered employee of a BD is required to be ______________.
Series 6 Series 7 - Answers What two types of securities registrations would allow an individual to offer
variable annuities?
