FINRA SIE Exam with 100% CORRECT ANSWERs
Question : 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 ANSWER : NAV computed after the order is
received
Question : 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 ANSWER : 30/360
Question : Blue-sky laws are regulated by which of the
following entities?
SEC MSRB FINRA state securities regulators
CORRECT ANSWER : State securities regulators
Question : At the time of issuance, which of the following
securities normally has the longest period to expiration?Rights Options Warrants Repurchase agreements
CORRECT ANSWER : Warrants
Question : Regular way settlement on Treasury Bonds is: same day next business day
second business day fifth business day
CORRECT ANSWER : next business day
Question : 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 ANSWER : prohibited as fraudulent and
manipulative
Question : 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
CORRECT ANSWER : the policies to protect the security of
nonpublic information
Question : UTMA accounts are opened under the tax ID
number of the:
minor donor parent custodian
CORRECT ANSWER : minor
Question : Under FINRA rules, noncash compensation
connected with the sale of variable contracts includes all of
the following items EXCEPT:
gifts