TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
FINRA Practice SIE Exam Practice
Questions and Answers
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-NAV computed after the
order is received
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-30/360
Blue-sky laws are regulated by which of the following entities?
SEC
MSRB
FINRA
state securities regulators - ✔️✔️Correct-State securities regulators
1/22
,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
At the time of issuance, which of the following securities normally has the longest period
to expiration?
Rights
Options
Warrants
Repurchase agreements - ✔️✔️Correct-Warrants
Regular way settlement on Treasury Bonds is:
same day
next business day
second business day
fifth business day - ✔️✔️Correct-next business day
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-prohibited as fraudulent and manipulative
Under SEC S-P (Consumer Privacy), which of the following information must a firm
include in its customer privacy and opt-out notices?
2/22
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
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-the policies to
protect the security of nonpublic information
UTMA accounts are opened under the tax ID number of the:
minor
donor
parent
custodian - ✔️✔️Correct-minor
Under FINRA rules, noncash compensation connected with the sale of variable
contracts includes all of the following items EXCEPT:
gifts
meals
lodging
commissions - ✔️✔️Correct-commissions
Describe the difference between primary distribution and secondary distribution. -
✔️✔️Correct-a primary distribution involves a sale of newly issued shares by the issuer
while a secondary distribution involves the sale of already issued and outstanding
shares
3/22
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
FINRA Practice SIE Exam Practice
Questions and Answers
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-NAV computed after the
order is received
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-30/360
Blue-sky laws are regulated by which of the following entities?
SEC
MSRB
FINRA
state securities regulators - ✔️✔️Correct-State securities regulators
1/22
,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
At the time of issuance, which of the following securities normally has the longest period
to expiration?
Rights
Options
Warrants
Repurchase agreements - ✔️✔️Correct-Warrants
Regular way settlement on Treasury Bonds is:
same day
next business day
second business day
fifth business day - ✔️✔️Correct-next business day
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-prohibited as fraudulent and manipulative
Under SEC S-P (Consumer Privacy), which of the following information must a firm
include in its customer privacy and opt-out notices?
2/22
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
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-the policies to
protect the security of nonpublic information
UTMA accounts are opened under the tax ID number of the:
minor
donor
parent
custodian - ✔️✔️Correct-minor
Under FINRA rules, noncash compensation connected with the sale of variable
contracts includes all of the following items EXCEPT:
gifts
meals
lodging
commissions - ✔️✔️Correct-commissions
Describe the difference between primary distribution and secondary distribution. -
✔️✔️Correct-a primary distribution involves a sale of newly issued shares by the issuer
while a secondary distribution involves the sale of already issued and outstanding
shares
3/22
