TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Finra SIE Exam Study Guide Latest
Update
Exempt Securities from SEC Registration - ✔️✔️Correct--securities listed by the U.S. or
federal agencies
-Municipal Bonds
-Securities issued by banks, savings institutions and credit unions
-Public utility stocks or bonds
-Securities issued by religious, educational or nonprofit organizations
-Notes, bills of exchange, bankers acceptances and commercial paper with an initial
maturity of 270 days or less
-Insurance policies and fixed annuities
Exempt Transactions from SEC Registration - ✔️✔️Correct--Intrastate offerings (required
at state level)
-Regulation A offerings (<$5m within 12 mo. period)
-Regulation D offerings (aka private placement) (no more than 35 unaccredited
investors per year)
T-Bills - ✔️✔️Correct-Maturity: 4-52 weeks
Issued at a discount and matures at par. Difference between purchase price and par is
considered interest.
1/16
,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
T-Notes - ✔️✔️Correct-Maturity: 2-10 years
Pays interest semi-annually
Considered Intermediate
T-Bonds - ✔️✔️Correct-Maturity: 30 years
Pay interest semi-annually
T-STRIPS - ✔️✔️Correct-Maturity: 6 months to 30 years
Issued at a discount and mature at par
TIPS - ✔️✔️Correct-Maturity: 5,10,30 years
Pay interest semi-annually, par value and interest payments adjust according to
inflation.
GNMA - ✔️✔️Correct-(Government National Mortgage Association)
-Only agency security backed by govt.
-Support the Department of housing and urban development
FNMA - ✔️✔️Correct-(Federal National Mortgage Association)
-Publicly held corporation, responsible for providing capital for certain mortgages.
-Conventional, VA, FHA, etc.
FHLMC - ✔️✔️Correct-(Freddie Mac)
-Designed to create a secondary market for mortgages.
-Purchases residential mortgages and packages them into mortgage-backed securities
that are sold to investors
2/16
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
FCS - ✔️✔️Correct-(Farm Credit System)
-Lending institutions that provide financing to farmers.
-Sells securities and loans it to farmers
SLMA - ✔️✔️Correct-(Student Loan Marketing Association)
-Provides a secondary market for student loans
-Purchases student loans and sells them as short and medium debt securities to
investors
Repurchase Agreements - ✔️✔️Correct-short-term sales of government securities
(usually t-bills) with an agreement to repurchase the securities at a higher price
Corporate Commercial Paper - ✔️✔️Correct--Unsecured corporate debt
-Issued at discount and matures at par
-Matures at 270 days or less
-Exempt from SEC registration
Eurodollars - ✔️✔️Correct-US dollars deposited in foreign banks outside the United
States
Banker's Acceptance (BA) - ✔️✔️Correct--a short term credit investment created by a
company whose payment is guaranteed by a bank.
-used for importing/exporting
G.O. Bonds - ✔️✔️Correct--Municipal bonds that are backed by the "full faith and credit"
(tax power) of the issuer.
3/16
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Finra SIE Exam Study Guide Latest
Update
Exempt Securities from SEC Registration - ✔️✔️Correct--securities listed by the U.S. or
federal agencies
-Municipal Bonds
-Securities issued by banks, savings institutions and credit unions
-Public utility stocks or bonds
-Securities issued by religious, educational or nonprofit organizations
-Notes, bills of exchange, bankers acceptances and commercial paper with an initial
maturity of 270 days or less
-Insurance policies and fixed annuities
Exempt Transactions from SEC Registration - ✔️✔️Correct--Intrastate offerings (required
at state level)
-Regulation A offerings (<$5m within 12 mo. period)
-Regulation D offerings (aka private placement) (no more than 35 unaccredited
investors per year)
T-Bills - ✔️✔️Correct-Maturity: 4-52 weeks
Issued at a discount and matures at par. Difference between purchase price and par is
considered interest.
1/16
,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
T-Notes - ✔️✔️Correct-Maturity: 2-10 years
Pays interest semi-annually
Considered Intermediate
T-Bonds - ✔️✔️Correct-Maturity: 30 years
Pay interest semi-annually
T-STRIPS - ✔️✔️Correct-Maturity: 6 months to 30 years
Issued at a discount and mature at par
TIPS - ✔️✔️Correct-Maturity: 5,10,30 years
Pay interest semi-annually, par value and interest payments adjust according to
inflation.
GNMA - ✔️✔️Correct-(Government National Mortgage Association)
-Only agency security backed by govt.
-Support the Department of housing and urban development
FNMA - ✔️✔️Correct-(Federal National Mortgage Association)
-Publicly held corporation, responsible for providing capital for certain mortgages.
-Conventional, VA, FHA, etc.
FHLMC - ✔️✔️Correct-(Freddie Mac)
-Designed to create a secondary market for mortgages.
-Purchases residential mortgages and packages them into mortgage-backed securities
that are sold to investors
2/16
, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
FCS - ✔️✔️Correct-(Farm Credit System)
-Lending institutions that provide financing to farmers.
-Sells securities and loans it to farmers
SLMA - ✔️✔️Correct-(Student Loan Marketing Association)
-Provides a secondary market for student loans
-Purchases student loans and sells them as short and medium debt securities to
investors
Repurchase Agreements - ✔️✔️Correct-short-term sales of government securities
(usually t-bills) with an agreement to repurchase the securities at a higher price
Corporate Commercial Paper - ✔️✔️Correct--Unsecured corporate debt
-Issued at discount and matures at par
-Matures at 270 days or less
-Exempt from SEC registration
Eurodollars - ✔️✔️Correct-US dollars deposited in foreign banks outside the United
States
Banker's Acceptance (BA) - ✔️✔️Correct--a short term credit investment created by a
company whose payment is guaranteed by a bank.
-used for importing/exporting
G.O. Bonds - ✔️✔️Correct--Municipal bonds that are backed by the "full faith and credit"
(tax power) of the issuer.
3/16
