2026 - 2027 SIE EXAM PREP
QUESTIONS WITH CORRECT ANSWERS
Where do primary offerings trade? - ANSWER -Bank
Which offerings are not dilutive? - ANSWER -Secondary
Which does the SEC not view as general solicitation? - ANSWER -Demo days
Which registration from is necessary for a private placement of securities to a selected
number of investors? - ANSWER -Form D
What is the fundraising cap for crowdfunding offerings - ANSWER -$5 million
What is the Securities Act (1933)? - ANSWER -Companies must disclose financial and
other pertinent information in their prospectus before marketing stocks and bonds.
What is the Sarbanes-Oxley Act (2002) - ANSWER -Public companies must adhere to
financial reporting and corporate governance requirements.
Rule 506(B) Private Placements - ANSWER -Magazine and newspaper advertisements;
Unrestrained public websites; Radio and television broadcasts; Seminars (except demo
days)
Rule 506(C) General Solicitation Offerings - ANSWER -All buyers in the offering must
be accredited investors; The issuer responds appropriately to ascertain buyers'
accredited investor status; Satisfaction of specific other conditions in Regulation D
Rule 504 Limited Offerings - ANSWER -Companies can raise up to $10 million in 12
months, mostly from investors they have relationships with. The same criteria for Rule
506(b) also apply here.
Which registration from must U.S. issuers submit to the SEC for new offerings? -
ANSWER -From S-1
What best describes a quiet period? - ANSWER -A specified time when the marketing
team cannot share additional information.
What is the main aim of a public offering? - ANSWER -Raise funds
What is the main characteristic of secondary offerings? - ANSWER -Previously traded
shares.
Which statement is true? - ANSWER -Secondary offerings are between investors.
QUESTIONS WITH CORRECT ANSWERS
Where do primary offerings trade? - ANSWER -Bank
Which offerings are not dilutive? - ANSWER -Secondary
Which does the SEC not view as general solicitation? - ANSWER -Demo days
Which registration from is necessary for a private placement of securities to a selected
number of investors? - ANSWER -Form D
What is the fundraising cap for crowdfunding offerings - ANSWER -$5 million
What is the Securities Act (1933)? - ANSWER -Companies must disclose financial and
other pertinent information in their prospectus before marketing stocks and bonds.
What is the Sarbanes-Oxley Act (2002) - ANSWER -Public companies must adhere to
financial reporting and corporate governance requirements.
Rule 506(B) Private Placements - ANSWER -Magazine and newspaper advertisements;
Unrestrained public websites; Radio and television broadcasts; Seminars (except demo
days)
Rule 506(C) General Solicitation Offerings - ANSWER -All buyers in the offering must
be accredited investors; The issuer responds appropriately to ascertain buyers'
accredited investor status; Satisfaction of specific other conditions in Regulation D
Rule 504 Limited Offerings - ANSWER -Companies can raise up to $10 million in 12
months, mostly from investors they have relationships with. The same criteria for Rule
506(b) also apply here.
Which registration from must U.S. issuers submit to the SEC for new offerings? -
ANSWER -From S-1
What best describes a quiet period? - ANSWER -A specified time when the marketing
team cannot share additional information.
What is the main aim of a public offering? - ANSWER -Raise funds
What is the main characteristic of secondary offerings? - ANSWER -Previously traded
shares.
Which statement is true? - ANSWER -Secondary offerings are between investors.
