NEW SIE TEST REGISTRATION - TEST SIE SIMULATOR FEE

New SIE Test Registration - Test SIE Simulator Fee

New SIE Test Registration - Test SIE Simulator Fee

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Tags: New SIE Test Registration, Test SIE Simulator Fee, Online SIE Training, Exam SIE Actual Tests, SIE Dumps Collection

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FINRA SIE Exam Syllabus Topics:

TopicDetails
Topic 1
  • Employee Conduct and Reportable Events: This section of the exam measures the skills of Financial Compliance Specialists and covers regulatory expectations regarding employee conduct and disclosure requirements. Candidates must be familiar with Form U4 and Form U5, as well as reporting obligations for outside business activities and political contributions.
Topic 2
  • Understanding Trading, Customer Accounts, and Prohibited Activities: This section of the exam measures the skills of Securities Traders and focuses on different trading strategies, settlement processes, and corporate actions. Candidates must demonstrate knowledge of order types, including market, limit, stop, and good-til-canceled orders, as well as bid-ask spreads and discretionary versus non-discretionary trading.
Topic 3
  • Overview of the Regulatory Framework: This section of the exam measures the skills of Compliance Officers and evaluates knowledge of self-regulatory organization (SRO) requirements, including registration and continuing education for associated persons. Candidates must understand the distinction between registered and non-registered individuals and the requirements for maintaining industry qualifications.
Topic 4
  • Market Structure: This section of the exam measures the skills of Equity Market Specialists and covers the classification of financial markets, including the primary, secondary, third, and fourth markets. Candidates must demonstrate knowledge of electronic trading, over-the-counter (OTC) markets, and physical exchanges. One specific skill tested is differentiating between various market types and their operational mechanisms.
Topic 5
  • Understanding Products and Their Risks: This section of the exam measures the skills of Investment Analysts and examines different financial products and associated risks. Candidates must understand equity securities, including common stock, as well as debt instruments such as Treasury securities and mortgage-backed securities.

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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q121-Q126):

NEW QUESTION # 121
Which of the following rates is the interest rate at which banks borrow and lend to each other on an overnight basis?

  • A. Discount rate
  • B. Prime rate
  • C. LIBOR
  • D. Federal funds rate

Answer: D

Explanation:
Step by Step Explanation:
* Federal Funds Rate: The rate at which depository institutions lend reserves to each other overnight. It is set by the Federal Open Market Committee (FOMC).
* Other Rates:
* Prime Rate: Rate banks charge their most creditworthy customers.
* Discount Rate: Rate the Federal Reserve charges banks for borrowing directly from it.
* LIBOR: Interbank lending rate used internationally, now being phased out.
References:
* Federal Reserve Explanation of Rates: Federal Funds Rate.


NEW QUESTION # 122
The provision that allows a bond issuer to purchase bonds from customers prior to the maturity date on the bond is known as a:

  • A. Call
  • B. Conversion
  • C. Put
  • D. Defeasement

Answer: A

Explanation:
Step by Step Explanation:
* Call Provision: This allows the issuer to redeem bonds before their maturity date, usually at a premium to the par value, which benefits the issuer in a declining interest rate environment.
* Put Provision: Allows bondholders, not issuers, to sell the bond back to the issuer.
* Conversion: Relates to convertible bonds that can be converted into equity.
* Defeasement: Refers to the removal of a bond issuer's obligation by setting aside cash or securities to cover the debt.
References:
* SEC Guide on Callable Bonds: SEC Callable Bonds.


NEW QUESTION # 123
Under which of the following circumstances, if any, is it permissible for an individual without a Power of Attorney (POA) to sign a customer's name on their behalf?

  • A. Upon receipt of verbal authorization provided that written authorization is subsequently provided
  • B. Never permissible to sign a customer's name on their behalf
  • C. Upon approval by a firm principal
  • D. When accounts are fully discretionary

Answer: B

Explanation:
Step by Step Explanation:
* Prohibition on Signing Customer Names: It is never permissible to sign a customer's name without written authorization (POA) due to legal and ethical concerns. Unauthorized signing constitutes forgery and violates FINRA rules.
* Incorrect Options:
* A: Firm principal approval does not override this prohibition.
* B: Verbal authorization is insufficient.
* C: Discretionary authority does not allow unauthorized signing.
References:
* FINRA Rule 4512 (Customer Account Information): FINRA Rule 4512.


NEW QUESTION # 124
Which of the following listed securities carries voting rights?

  • A. Corporate bond
  • B. Preferred stock
  • C. Convertible bond
  • D. Common stock

Answer: D

Explanation:
Step by Step Explanation:
* Common Stock: Holders of common stock typically have voting rights, which allow them to participate in decisions like electing the board of directors or approving major corporate actions.
* Other Securities:
* Preferred Stock: Usually does not carry voting rights.
* Corporate and Convertible Bonds: Debt instruments, so they do not confer voting rights.
References:
* SEC Guide on Stock Voting Rights: SEC Voting Rights.


NEW QUESTION # 125
According to FINRA rules, under which of the following circumstances, if any, is a member firm permitted to send gifts to a registered representative of another member firm?

  • A. When the value of all gifts during a period of one year does not exceed $100
  • B. When no single gift exceeds $100 in value and the maximum value of all gifts per year equals $250
  • C. When no single gift exceeds $100 and there is no limit on the number of gifts
  • D. Under no circumstances

Answer: A

Explanation:
Step by Step Explanation:
* FINRA Rule 3220: This rule limits gifts to $100 per person annually to prevent conflicts of interest.
* Aggregate Limit: There is no provision for exceeding the $100 annual limit, regardless of the number of gifts.
* Purpose: The rule ensures that gifts do not influence decisions or create unethical relationships.
References:
* FINRA Rule 3220 (Influencing or Rewarding Employees of Others): FINRA Rule 3220.


NEW QUESTION # 126
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