FINRA SIE Exam Preparation Guide, Exams of Finance

Download FINRA SIE Exam Preparation Guide and more Exams Finance in PDF only on Docsity! FINRA SIE EXAM 2024 WITH 100% ACCURATE SOLUTIONS Which stakeholder has first claim priority in a Chapter 11 proceeding? - correct answer✔✔ Secured Debt Holders What is a firm required to do when receiving cash in excess of $10,000 from one customer in one business day? - correct answer✔✔ File a Currency Transaction Report If a registered representative drives UBER part time, what is required? - correct answer✔✔ They must provide written notification to the firm as mandated by FINRA. A customer has a cash balance in her account with long positions in several securities. She has made no transactions in 18 months. How often must the firm send her account statement? - correct answer✔✔ Quarterly The redemption value of an open-end investment company's shares is based on what? - correct answer✔✔ NAV computed after the order was received. When is call protection most valuable to a bond owner? - correct answer✔✔ when bond prices are rising UTMA accounts are opened under the tax ID of who? - correct answer✔✔ the minor What program provides exposure to non-correlated assets with steady returns? - correct answer✔✔ DPP (direct participation programs) At expiration, all in-the-money S&P Index calls are settled by the delivery of what? - correct answer✔✔ CASH. It's like way easier, homie. Regular way settlement on a Treasury Bond is - correct answer✔✔ next business day (same for all government securities) What feature is shared between Roth 401k and Roth IRA - correct answer✔✔ Qualified distributions are excluded from federal income tax What investment company security is negatively impacted if the issuer's credit rating is downgraded? - correct answer✔✔ ETN A firm agrees to repurchase shares at the original sales price in a public offering as a means to sell more securities. This is: - correct answer✔✔ prohibited. It is fraudulent and manipulative. Who regulates Blue-Sky Laws? - correct answer✔✔ State securities regulators. What type of security provides investors with stated maturity date, floating interest rate, and option to put security back to a financial intermediary on a daily/weekly basis. - correct answer✔✔ Variable rate demand note The computation of dollar prices and accrued interest on muni bonds is normally on what calendar basis? - correct answer✔✔ 30/360 What is the maximum period of time of validity for a customer's letter of intent (LOI)? - correct answer✔✔ 13 months What is the cost basis of an inherited mutual fund? - correct answer✔✔ NAV of the shares when the owner dies OTC spread refers to the difference in what? - correct answer✔✔ bid and ask What is the maximum contribution a municipal finance professional may contribute to a political campaign within 2 years? - correct answer✔✔ $250