FINRA SIE EXAM | QUESTIONS AND
VERIFIED ANSWERS | 100%
CORRECT | RATED A+ | LATEST
2025/2026 GUIDE
When a broker-dealer charges a commission on a securities transaction,
it has acted as:
A) an agent
B) a principal
C) an underwriter
D) a market maker - Correct Answer - an agent
Which of the following actions is required of a broker-dealers anti-money
laundering (AML) program?
A) Designating an AML compliance officer
B) Filing of the firms AML program with FINRA
C) Conducting background checks of all employees
D) Identifying to regulators the employees responsible for Currency
Transaction Reports (CTRs) - Correct Answer - Designating an AML
compliance officer
What is the cost basis of an inherited mutual fund?
,A) The net asset value (NAV) of the shares when the owner dies
B) The NAV 30 days after the owners death
C) The same cost basis as the deceased
D) The same cost basis as the deceased plus capital gains. - Correct
Answer - The net asset value (NAV) of the shares when the owner dies
A customer buys 1 ABC, Jan 35 PUT for a premium of $3 and
simultaneously buys 100 shares of ABC stock for $35 per share. The
customer will break even when the stock is selling at what price per
share at expiration?
A) $38
B) $32
C) $35
D) $3 - Correct Answer - $38
Under a system of statutory voting, a common stockholder has as many
votes for each vacancy on the board of directors as the number of:
A) positions vacant on board
B) directors present at the meeting
C) shares owned by the stockholder - Correct Answer - Shares owned
by the stockholder
, The computation of dollar prices and accrued interest on municipal
bonds is normally on what calendar basis?
A) 30/360
B) 30/365
C)Actual/365
D) Actual/360 - Correct Answer - 30/365
Which of the following considerations should a registered representative
explain to a customer when recommending a 529 college savings plan?
A) The potential deductibility of contributions from state taxes
B) The potential deductibility contribution from federal taxes
C) The income eligibility restrictions to contribute to the account -
Correct Answer - The potential deductibility of contributions from state
taxes
The redemption value of an open-end investment company shares is
based on the:
A) Previous offering price
B) Previous closing net asset value (NAV)
C) NAV computed after the order is received - Correct Answer - NAV
computed after the order is received
VERIFIED ANSWERS | 100%
CORRECT | RATED A+ | LATEST
2025/2026 GUIDE
When a broker-dealer charges a commission on a securities transaction,
it has acted as:
A) an agent
B) a principal
C) an underwriter
D) a market maker - Correct Answer - an agent
Which of the following actions is required of a broker-dealers anti-money
laundering (AML) program?
A) Designating an AML compliance officer
B) Filing of the firms AML program with FINRA
C) Conducting background checks of all employees
D) Identifying to regulators the employees responsible for Currency
Transaction Reports (CTRs) - Correct Answer - Designating an AML
compliance officer
What is the cost basis of an inherited mutual fund?
,A) The net asset value (NAV) of the shares when the owner dies
B) The NAV 30 days after the owners death
C) The same cost basis as the deceased
D) The same cost basis as the deceased plus capital gains. - Correct
Answer - The net asset value (NAV) of the shares when the owner dies
A customer buys 1 ABC, Jan 35 PUT for a premium of $3 and
simultaneously buys 100 shares of ABC stock for $35 per share. The
customer will break even when the stock is selling at what price per
share at expiration?
A) $38
B) $32
C) $35
D) $3 - Correct Answer - $38
Under a system of statutory voting, a common stockholder has as many
votes for each vacancy on the board of directors as the number of:
A) positions vacant on board
B) directors present at the meeting
C) shares owned by the stockholder - Correct Answer - Shares owned
by the stockholder
, The computation of dollar prices and accrued interest on municipal
bonds is normally on what calendar basis?
A) 30/360
B) 30/365
C)Actual/365
D) Actual/360 - Correct Answer - 30/365
Which of the following considerations should a registered representative
explain to a customer when recommending a 529 college savings plan?
A) The potential deductibility of contributions from state taxes
B) The potential deductibility contribution from federal taxes
C) The income eligibility restrictions to contribute to the account -
Correct Answer - The potential deductibility of contributions from state
taxes
The redemption value of an open-end investment company shares is
based on the:
A) Previous offering price
B) Previous closing net asset value (NAV)
C) NAV computed after the order is received - Correct Answer - NAV
computed after the order is received
