SIE EXAM 1-5: SIE Exam 1: SIE Exam 2: SIE Exam 3: SIE Exam 4: SIE Exam 5:Questions & Answers: Updated A+ Score Solution

Which of the following statements is TRUE regarding the role of SIPC? (Ans- SIPC covers separate customers. If a broker-dealer declares bankruptcy, which of the following positions is fully covered by SIPC? (Ans- $300,000 in stock, $100,000 in cash If there is a violation of securities laws, which of the following is responsible for taking criminal action? (Ans- The Department of Justice (DOJ) If SIPC does not cover in full a customer's account in a brokerage firm that has gone bankrupt, the investor is a: (Ans- General creditor The Securities Investor Protection Corporation is funded by: (Ans- Assessments on broker-dealers "Blue Sky Laws" were established by: (Ans- Uniform Securities ActA person has opened an account at a brokerage firm. In which of the following situations is her account protected by SIPC? (Ans- The firm files for bankruptcy and ceases doing business. The Municipal Securities Rulemaking Board (MSRB) does NOT regulate which of the following? (Ans- Municipal issuers The primary purpose of the North American Securities Administrators Association is to: (Ans- Create rules, laws, and exam requirements for states MSRB rules do NOT apply to: (Ans- Issuers