Reliable FINRA SIE Exam Questions, SIE Examinations Actual Questions

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FINRA SIE Exam Syllabus Topics:

Topic	Details
Topic 1	Understanding Products and Their Risks: This section of the exam measures the skills of Investment Analysts and examines different financial products and associated risks. Candidates must understand equity securities, including common stock, as well as debt instruments such as Treasury securities and mortgage-backed securities.
Topic 2	Market Structure: This section of the exam measures the skills of Equity Market Specialists and covers the classification of financial markets, including the primary, secondary, third, and fourth markets. Candidates must demonstrate knowledge of electronic trading, over-the-counter (OTC) markets, and physical exchanges. One specific skill tested is differentiating between various market types and their operational mechanisms.
Topic 3	Understanding Trading, Customer Accounts, and Prohibited Activities: This section of the exam measures the skills of Securities Traders and focuses on different trading strategies, settlement processes, and corporate actions. Candidates must demonstrate knowledge of order types, including market, limit, stop, and good-til-canceled orders, as well as bid-ask spreads and discretionary versus non-discretionary trading.

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SIE Examinations Actual Questions | Study SIE Materials

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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q24-Q29):

NEW QUESTION # 24
How does an individual acquire restricted stock?

A. By participating in an SEC Regulation D offering
B. By exercising an option for exchange-traded calls
C. By exercising publicly traded warrants
D. By participating in an initial public offering (IPO)

Answer: A

Explanation:
Restricted stock refers to securities acquired through private placements, such as those offered under Regulation D. These securities are not registered with the SEC and are subject to holding period restrictions before resale.
* A is correctbecause Regulation D offerings involve private placements, resulting in restricted stock.
* Bis incorrect because IPOs involve publicly traded shares, not restricted stock.
* CandDare incorrect because restricted stock is not obtained through warrants or exchange-traded options.

NEW QUESTION # 25
Which of the following statements is true about a corporation's balance sheet?

A. It lists a company's assets, liabilities, and net worth on the date the statement was prepared.
B. It summarizes a company's revenues and expenses for the firm's fiscal year.
C. It is also called a profit and loss statement.
D. It reports where a corporation's cash is being generated and where its cash is being spent for a specific period.

Answer: A

Explanation:
Step by Step Explanation:
* Balance Sheet Definition: Shows a company's financial position at a specific point in time, listing assets, liabilities, and shareholders' equity (net worth).
* Other Financial Statements:
* Profit and Loss Statement: Summarizes revenues and expenses over a period.
* Cash Flow Statement: Tracks cash inflows and outflows.
References:
* SEC Guide to Financial Statements: SEC Financials.

NEW QUESTION # 26
Which of the following statements is true of an index exchange-traded fund (ETF)?

A. It offers an opportunity to outperform the index it tracks.
B. It has a high portfolio turnover ratio.
C. It is priced once daily, generally at the market close.
D. Passive ETFs will typically have lower fees than those associated with actively managed ETFs.

Answer: D

Explanation:
Passive ETFs track an index and require minimal management, leading to lower expenses compared to actively managed ETFs.
* D is correctbecause passive ETFs are cost-efficient and have lower fees.
* Ais incorrect because index ETFs have low turnover since they replicate an index.
* Bis incorrect because ETFs are priced continuously throughout the trading day.
* Cis incorrect as ETFs aim to match, not outperform, the index.

NEW QUESTION # 27
A customer holds 1,000 shares of Company XYZ and wants to sell covered calls against this position. What is the maximum number of contracts that the customer could sell and still remain covered?

A. 5 contracts
B. 10 contracts
C. 1,000 contracts
D. 100 contracts

Answer: B

Explanation:
Each option contract represents 100 shares. A covered call involves selling a call option while holding an equivalent number of shares to deliver if the option is exercised.
* The customer owns 1,000 shares.
* Since 1 contract = 100 shares, the maximum number of contracts the customer can sell is:1,000 shares
÷ 100 shares/contract = 10 contracts.
* B is correctbecause selling 10 contracts corresponds to 1,000 shares, fully covering the position.

NEW QUESTION # 28
A market maker quotes the market on an NMS equity security as 39.05 - 39.15 [5x10]. Which of the following orders is the market maker required to fill?

A. A sell order for 300 shares at $39.05
B. A buy order for 2,000 shares at $39.15
C. A buy order for 1,000 shares at $39.10
D. A sell stop order for 500 shares at $39.00

Answer: B

Explanation:
The quote indicates that the market maker is willing to buy 500 shares at $39.05 (bid) and sell 1,000 shares at
$39.15 (ask). Market makers are required to honor their quoted size for orders that fall within their bid/ask prices.
* D is correctbecause the market maker is obligated to sell at least 1,000 shares at $39.15 as it falls within the quoted size and price.
* Bis incorrect because the bid is at $39.05, not $39.00.
* Cis incorrect because $39.10 does not match the ask price.
* Ais invalid as a stop order would not activate at $39.00.

NEW QUESTION # 29
......

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Reliable FINRA SIE Exam Questions, SIE Examinations Actual Questions

FINRA SIE Exam Syllabus Topics:

SIE Examinations Actual Questions | Study SIE Materials

FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q24-Q29):

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