FINRA SIE EXAM QUESTIONS ARE DESIGNED BY EXPERTS

FINRA SIE Exam Questions Are Designed By Experts

FINRA SIE Exam Questions Are Designed By Experts

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Tags: SIE Practical Information, SIE Test Book, SIE Standard Answers, SIE Latest Test Labs, SIE Reliable Dumps

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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q71-Q76):

NEW QUESTION # 71
A registered representative (RR) at a member firm is the subject of a statutory disqualification. Which of the following statements is true?

  • A. The RR is prohibited from soliciting business but is permitted to accept unsolicited orders.
  • B. The RR is prohibited from employment by a member firm in any registered capacity but is permitted to be employed in an unregistered capacity.
  • C. A statutory disqualification, although reportable to CRD, does not affect employment in the securities industry.
  • D. The RR is prohibited from any association or employment with a member firm unless he obtains a waiver.

Answer: D

Explanation:
A statutory disqualification occurs if an RR has been convicted of certain crimes, violated securities laws, or been barred by a regulatory authority. Under FINRA rules, the RR cannot associate with a member firm in any capacity unless they obtain a waiver from FINRA.
* B is correctbecause the disqualified person must obtain a waiver to continue employment.
* AandCare incorrect because the RR is not allowed to associate with the firm in any capacity without a waiver.
* Dis incorrect because statutory disqualification directly affects the RR's employment status.


NEW QUESTION # 72
A registered representative must complete which of the following activities when entering a discretionary trade?

  • A. Obtain authorization from the customer before each discretionary order is entered
  • B. Receive instructions from the customer as to the price at which to buy or sell a security
  • C. Only exercise discretion over market orders
  • D. Indicate that discretion was exercised on the order ticket to be identified for supervisory review

Answer: D

Explanation:
FINRA Rule 3260 requires that discretionary trades be approved by the customer in writing and reviewed by the supervising firm. The order ticket must indicate that discretion was exercised to ensure proper oversight.
* B is correctbecause marking the order ticket ensures compliance with supervisory requirements.
* Ais incorrect because discretionary authority is not limited to market orders.
* Cis incorrect as discretionary trades do not require pre-approval for each trade but require prior written authorization.
* Dis incorrect because discretionary authority allows the RR to decide on price and timing without specific customer instructions.


NEW QUESTION # 73
Which of the following statements characterizes the typical relationship between the market value of a municipal bond portfolio and interest rates?

  • A. As the market value goes up, interest rates stay constant.
  • B. As the market value goes down, interest rates decrease.
  • C. As interest rates increase, the market value goes up.
  • D. As interest rates decrease, the market value goes up.

Answer: D

Explanation:
Step by Step Explanation:
* Inverse Relationship: Bond prices and interest rates have an inverse relationship. When interest rates fall, existing bonds with higher coupon rates become more valuable, leading to an increase in market value.
* Incorrect Options:
* A: Market value decreases as interest rates increase.
* C: Interest rates and bond values move inversely, not in the same direction.
* D: Interest rates are not constant; they fluctuate over time.
References:
* SEC Municipal Bonds Overview: SEC Municipal Bonds.


NEW QUESTION # 74
Which of the following security types is frequently offered to the public as part of a package or unit that also includes a fixed income obligation?

  • A. Options
  • B. Common stock
  • C. Preferred stock
  • D. Warrants

Answer: D

Explanation:
Step by Step Explanation:
* Warrants: Are often issued alongside fixed-income securities, such as bonds, to enhance their appeal to investors. Warrants give the holder the right to purchase company stock at a specific price in the future.
* Incorrect Options:
* Options: Not typically bundled with fixed-income securities.
* Common and Preferred Stock: Usually issued separately, not as part of a package with bonds.
References:
* SEC Guide on Warrants: SEC Warrants Information.


NEW QUESTION # 75
A customer buys 100 ABC at $50 and at the same time sells an ABC April 50 call at $8. At expiration, ABC must be at what market price for the customer to break even?

  • A. $58
  • B. $42
  • C. $44
  • D. $50

Answer: B

Explanation:
Step by Step Explanation:
* Breakeven Calculation: For covered call writing, breakeven is the stock purchase price minus the premium received.
* Purchase Price = $50
* Premium Received = $8
* Breakeven = $50 - $8 = $42.
* Other Options:
* B, C, and D: Incorrect because they do not reflect the proper calculation of stock price minus the premium.
References:
* Options Clearing Corporation (OCC) Education: OCC Options Guidance.


NEW QUESTION # 76
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