Valid SIE Exam Tutorial, SIE Test Dumps
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FINRA SIE Exam Syllabus Topics:
Topic
Details
Topic 1
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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q23-Q28):
NEW QUESTION # 23
On settlement date, a customer is unable to pay for a purchase in his cash account. His position is liquidated.
Which of the following statements is true according to Federal Reserve Regulation T?
Answer: A
Explanation:
Federal Reserve Regulation T mandates that customers must pay for purchases in a cash account within two business days of settlement (T+4). If payment is not made, the brokerage firm must liquidate the securities and place the account on a 90-day restriction.
* C is correctbecause the customer's account is frozen for 90 days, during which all trades must be paid for in advance.
* Ais incorrect as closing transactions are still permitted but require prepayment.
* Bis incorrect because the restriction lasts for 90 days, not 30.
* Dis incorrect as only the delinquent account, not related accounts, is frozen.
NEW QUESTION # 24
Company XYZ files a registration statement for its initial public offering (IPO). XYZ is permitted to communicate all of the following information about the offering in writing to investorsexceptthat:
Answer: D
Explanation:
During the "quiet period" after filing the registration statement, issuers are restricted in what they can communicate to the public to avoid influencing the market.
* C is correctbecause promotional statements, such as those supporting the company's valuation, are prohibited during this time.
* A,B, andDare factual, non-promotional statements and are permitted.
NEW QUESTION # 25
Which of the following security types is frequently offered to the public as part of a package or unit that also includes a fixed income obligation?
Answer: A
Explanation:
Step by Step Explanation:
* Warrants: Are often issued alongside fixed-income securities, such as bonds, to enhance their appeal to investors. Warrants give the holder the right to purchase company stock at a specific price in the future.
* Incorrect Options:
* Options: Not typically bundled with fixed-income securities.
* Common and Preferred Stock: Usually issued separately, not as part of a package with bonds.
References:
* SEC Guide on Warrants: SEC Warrants Information.
NEW QUESTION # 26
A bond with a par value of $1,000 that is backed by the taxing power of a local government is known as:
Answer: D
Explanation:
Step by Step Explanation:
* General Obligation (GO) Bonds: Backed by the full faith and credit of the issuing municipality, relying on its taxing power for repayment.
* Revenue Bonds: Supported by revenues from a specific project or source.
* Treasury Bonds: Issued by the federal government.
* Corporate Bonds: Issued by corporations, not municipalities.
References:
* SEC Municipal Bond Guide: SEC GO Bonds.
NEW QUESTION # 27
A confirmation indicates a 100-share purchase of Company ABC at $11. According to SEC rules, which of the following information is required to be stated on the confirmation?
Answer: A
Explanation:
Step by Step Explanation:
* SEC Rule 10b-10: Requires trade confirmations to disclose the capacity in which the firm acted (e.g., as agent or principal) and details like trade price, quantity, and commissions.
* Incorrect Options:
* A: Cost basis is not disclosed on trade confirmations.
* B: Inventory levels are not part of the required disclosures.
* C: Market maker status is not explicitly required in the confirmation.
References:
* SEC Rule 10b-10 (Confirmation Requirements): SEC Rule 10b-10.
NEW QUESTION # 28
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