SIE Practice Exam
No- Load Mutual funds may have lower expense ratios than load mutual funds for
which reason?
(ANS- No-load funds are not permitted to charge a 12b-1 fee greater than 25 basis
points
Under normal circumstances, a customer’s letter of intent on a mutual fund
purchase is valid for what maximum period of time?
(ANS- 13 months
At the time of issuance, which of the following securities normally has the longest
period to expiration?
(ANS- Warrants
Under the Securities act of 1933, registration is required for which of the following
securities?
(ANS- American Depository receipts (ADRs)
the primary purpose of a syndicate desk in the context of an equity offering is to
(ANS- build an order book and allocate the stock
what is the cost basis of an inherited mutual fund?
(ANS- the net asset value (NAV) of the shares when the owner dies
which of the following actions is required when a firm receives cash in excess of
10k from one customer in one business day?
(ANS- File a currency transaction report (CTR)
under rule 144a, an issuer of restricted stock is permitted to sell to which of the
following investors?
(ANS- qualified institutional buyers (QIBs)<\/p>\n\n\n\n
a savings account at a bank is guaranteed by which of the following entities
(ANS- FDIC
an associated person who is not a registered rep is permitted to engage in what
activity
(ANS- provide account opening forms to a new customer
under industry regulations, an initial purchase of 3k of common stock in a margin
account requires a cash deposit of
(ANS- 2k (2k or 100% or purchase price, whatever is cheaper)
which of the following investment risks is the greatest risk in a variable life
insurance policy?
(ANS- market risk
a registered rep who wants to place a mutual fund advertisement must obtain
written approval from which of the following parties?
(ANS- a registered principal of the RR’s firm
in the event of a stock split, who is required to maintain a record of the
shareholders eligible to receive the additional shares?
(ANS- transfer agent
which of the following outcomes are possible for the writer of a covered call
option?
(ANS- profit limited and loss limited
which of the following actions is required of a broker dealers aml program?
(ANS- designating an aml compliance officer
at issue, which of the following debt securities mature in one year or less?
(ANS- money market instruments<\/p>\n","protected":false},"excerpt":{"rendered":"
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