FINRA SIE EXAMPREP PRACTICE 75
QUESTIONS WITH COMPLETE SOLUTIONS
2026 GRADED A+
⩥What are the two self regulatory organizations (SROs) that are
regulated by the SEC and what are their responsibilities?.
Answer: 1. FINRA: regulates broker-dealers and registered reps
2. MSRB: regulates municipal securities market
⩥RR registration process.
Answer: 1. Take SIE
2. Form U4 gives background on employee to associate with firm
3. Take series exams (6, 7, 79)
4. become a RR
5. Fill out a form U5 when terminated from the firm (regardless of
reason)
⩥Arbitration.
Answer: - a means of settling financial disputes outside of the court
system (all RRs must sign a pre-dispute arbitration agreement as part of
their Form U4)
, ⩥A firm must typically file a Form U5 with FINRA within how many
days of a rep's termination?.
Answer: 30 days
⩥A registered rep terminates her registration by filing a Form U5. For
how long, if at all, must the rep maintain an updated residential address
in FINRA's CRD system?.
Answer: 2 years
⩥Which of the following individuals is not required to be fingerprinted?
A. A silent partner of the firm who has made a significant capital
contribution
B. An associated person who processes stock withdrawals and deposits
C. An employee who handles cash
D. A registered rep who conducts her securities business online.
Answer: A. A silent partner of the firm, all three others are the three
main examples of people who do need to be fingerprinted
⩥BrokerCheck and annual notification for it.
Answer: - discloses the background of brokers, advisers, and investment
firms to the public (employement history, licensing information &
regulatory actions, arbitrations, and complaints)
- FINRA requires firms to give their customers an annual notification
about it and its details and shi
QUESTIONS WITH COMPLETE SOLUTIONS
2026 GRADED A+
⩥What are the two self regulatory organizations (SROs) that are
regulated by the SEC and what are their responsibilities?.
Answer: 1. FINRA: regulates broker-dealers and registered reps
2. MSRB: regulates municipal securities market
⩥RR registration process.
Answer: 1. Take SIE
2. Form U4 gives background on employee to associate with firm
3. Take series exams (6, 7, 79)
4. become a RR
5. Fill out a form U5 when terminated from the firm (regardless of
reason)
⩥Arbitration.
Answer: - a means of settling financial disputes outside of the court
system (all RRs must sign a pre-dispute arbitration agreement as part of
their Form U4)
, ⩥A firm must typically file a Form U5 with FINRA within how many
days of a rep's termination?.
Answer: 30 days
⩥A registered rep terminates her registration by filing a Form U5. For
how long, if at all, must the rep maintain an updated residential address
in FINRA's CRD system?.
Answer: 2 years
⩥Which of the following individuals is not required to be fingerprinted?
A. A silent partner of the firm who has made a significant capital
contribution
B. An associated person who processes stock withdrawals and deposits
C. An employee who handles cash
D. A registered rep who conducts her securities business online.
Answer: A. A silent partner of the firm, all three others are the three
main examples of people who do need to be fingerprinted
⩥BrokerCheck and annual notification for it.
Answer: - discloses the background of brokers, advisers, and investment
firms to the public (employement history, licensing information &
regulatory actions, arbitrations, and complaints)
- FINRA requires firms to give their customers an annual notification
about it and its details and shi
