SIE PRACTICE 2026 EXAMS WITH
CORRECT ANSWERS GRADED A+
/PRACTICE TEST 2026
1. What is the SEC - ANSWER-A government oversight agency in
place to protect (market participants) investors and make fair
and efficent markets
2. When was the SEC established - ANSWER-1934
3. What does the Securities act of 1933 state - ANSWER-Requires
full disclosure of important information to prevent fraud from
companies, with enforcement handled by the SEC
4. What does the Securities act of 1934 state - ANSWER-1)
Regulates securities trading on secondary markets 2)
Requires certain issuers to disclose information 3) File
periodic reports to the SEC if they have over $10 mil in assets
or 500+ shareholders
5. What does the investment advisers act of 1940 state -
ANSWER-1) Limits how investment advisers can advertise by
banning misleading or deceptive ads 2) Defined accredited
investors and qualified clients
6. What does the investment company act of 1940 state -
ANSWER-1) Requires investment companies to disclose how
they operate, what they invest in, and their financial condition
, 7. What are accredited investors - ANSWER-An individual with a
net word exceeding $1 million or a couple both earing $200k
and $300k for 2 successive years
8. What are qualified clients - ANSWER-An individual who meets
specific wealth or asset requirements
9. Who can be charged performance based fees - ANSWER-
accredited investors and qualified clients
10. What is SRO - ANSWER-Self Regulatory Organizations
11. What are some SROS - ANSWER-New York Stock
Exchange (NYSE), Chicago Board Options Exchange (CBOE),
FINRA, & Municipal Securities Regulatory Boards (MSRB)
12. When was the New York Stock Exchange created -
ANSWER-1792
13. When was the Chicago Board Options Exchange created -
ANSWER-1973
14. What is FINRA - ANSWER-A non profit org supervised by
the SEC charged with overseeing broker-dealer in the USA
15. What is FINRAS responsibility - ANSWER-Meant to
protect the investing public by writing and enforcing rules to
broker-dealers for market transparency
CORRECT ANSWERS GRADED A+
/PRACTICE TEST 2026
1. What is the SEC - ANSWER-A government oversight agency in
place to protect (market participants) investors and make fair
and efficent markets
2. When was the SEC established - ANSWER-1934
3. What does the Securities act of 1933 state - ANSWER-Requires
full disclosure of important information to prevent fraud from
companies, with enforcement handled by the SEC
4. What does the Securities act of 1934 state - ANSWER-1)
Regulates securities trading on secondary markets 2)
Requires certain issuers to disclose information 3) File
periodic reports to the SEC if they have over $10 mil in assets
or 500+ shareholders
5. What does the investment advisers act of 1940 state -
ANSWER-1) Limits how investment advisers can advertise by
banning misleading or deceptive ads 2) Defined accredited
investors and qualified clients
6. What does the investment company act of 1940 state -
ANSWER-1) Requires investment companies to disclose how
they operate, what they invest in, and their financial condition
, 7. What are accredited investors - ANSWER-An individual with a
net word exceeding $1 million or a couple both earing $200k
and $300k for 2 successive years
8. What are qualified clients - ANSWER-An individual who meets
specific wealth or asset requirements
9. Who can be charged performance based fees - ANSWER-
accredited investors and qualified clients
10. What is SRO - ANSWER-Self Regulatory Organizations
11. What are some SROS - ANSWER-New York Stock
Exchange (NYSE), Chicago Board Options Exchange (CBOE),
FINRA, & Municipal Securities Regulatory Boards (MSRB)
12. When was the New York Stock Exchange created -
ANSWER-1792
13. When was the Chicago Board Options Exchange created -
ANSWER-1973
14. What is FINRA - ANSWER-A non profit org supervised by
the SEC charged with overseeing broker-dealer in the USA
15. What is FINRAS responsibility - ANSWER-Meant to
protect the investing public by writing and enforcing rules to
broker-dealers for market transparency
