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Guide for SIE: Finra Securities Industry Essentials

Quiz SIE: Finra Securities Industry Essentials

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/ 10

Quiz

1/10
An investor wants to make a $1,000 distribution from their mutual fund portfolio. They own two
different mutual funds in this portfolio. Fund A has a high cost basis, and Fund B has a low cost basis.
Which of the following strategies should they use if their only objective is to pay the least amount of
taxes?
Select the answer
1 correct answer
A.
Redeem $1,000 of Fund A
B.
Redeem $1,000 of Fund B
C.
Redeem $500 of Fund A and $500 of Fund B
D.
Redeem the fund that has the higher profit

Quiz

2/10
Company ABC announces a 1-for-3 reverse stock split. The customer owns 300 shares priced at $9.00
each. After the split, how many shares will the investor have and at what price?
Select the answer
1 correct answer
A.
100 shares at $27.00
B.
150 shares at $18.00
C.
200 shares at $13.50
D.
900 shares at $3.00

Quiz

3/10
Under which of the following circumstances, if any, is a registered representative (RR) permitted to
share in the profits and losses of security interests that the RR has purchased jointly with a customer?
Select the answer
1 correct answer
A.
Only when the customer is an accredited investor
B.
Only if the RR’s firm is also a participant in the sharing arrangement
C.
When the profits and losses are proportionate to the amount contributed by the RR
D.
Under no circumstances

Quiz

4/10
A broker-dealer (BD) creates a marketing postcard that includes a statement regarding FINRA's
endorsement of the BD. Which of the following responses is true?
Select the answer
1 correct answer
A.
The statement regarding FINRA's endorsement is not permissible.
B.
The statement is permissible if a principal of the BD approves it in writing prior to use.
C.
The statement is permissible if the statement is approved in writing by FINRA prior to use.
D.
The statement is permissible if the postcard does not discuss specific investment opportunities.

Quiz

5/10
Under the Securities Act of 1933, the SEC is empowered to take which of the following actions?
Select the answer
1 correct answer
A.
Approve registration statements
B.
Approve a security based on its investment merits
C.
Require that all pertinent information is disclosed
D.
Pass on the accuracy of statements made in a prospectus

Quiz

6/10
An investor wants to purchase additional mutual fund shares with income distributed by the fund.
Which of the following fund options permits this?
Select the answer
1 correct answer
A.
Asset reallocation
B.
Dollar cost averaging
C.
Dividend reinvestment
D.
Capital gains reinvestment

Quiz

7/10
How does an individual acquire restricted stock?
Select the answer
1 correct answer
A.
By participating in an SEC Regulation D offering
B.
By participating in an initial public offering (IPO)
C.
By exercising publicly traded warrants
D.
By exercising an option for exchange-traded calls

Quiz

8/10
In a rising interest rate environment, which of the following statements is true regarding the price of
fixed-rate corporate bonds?
Select the answer
1 correct answer
A.
Their price will remain constant.
B.
Their price will revert to par value.
C.
Their price will appreciate in value.
D.
Their price will depreciate in value.

Quiz

9/10
Which of the following strategies is best for mitigating the risk of a concentrated position?
Select the answer
1 correct answer
A.
Diversification
B.
Use of leverage
C.
Dollar-cost averaging
D.
Dividend reinvestment

Quiz

10/10
How long are unused funds permitted to remain in a Coverdell education savings account?
Select the answer
1 correct answer
A.
All funds must be distributed when the beneficiary’s age reaches 21 years old.
B.
All funds must be distributed when the beneficiary’s age reaches 30 years old.
C.
All funds must be distributed when the beneficiary’s age reaches 59 ½ years old.
D.
There is no age limit preventing funds from remaining in a beneficiary’s account.
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Info quiz:

  • Quiz name:SIE: Finra Securities Industry Essentials
  • Total number of questions:266
  • Number of questions for the test:50
  • Pass score:80%

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