SIE Exam: Overview of the Regulatory Framework Practice Test 3

A. The member is disciplined by a local school board.

B. The member is cited by a police officer for a misdemeanor.

C. The member is disciplined by a state securities commission.

D. The member is fined by the Internal Revenue Service for a non-timely filing of a federal income tax return.

A. Document the applicant's identity

B. Review the applicant's driver's license

C. Review the applicant's passport

D. Document contacting the applicant's employers for the last twenty years

A. Every bank

B. Every broker

C. Every registered transfer agent

D. Every registered clearing agency

A. Disciplinary action by a Human Resources Department in a previous employment

B. Conviction of a felony within ten years prior to an application for membership or participation

C. Bankruptcy other than a business bankruptcy within seven years prior to an application for membership or participation

D. More than one divorce in the five years prior to an application for membership or participation

A. Any person who is only in senior management

B. Any person who is a sole proprietor

C. Any person who is in investment banking controlled indirectly by the applicant

D. Any person who does only clerical work

A. FINRA rules

B. Direction based upon the FINRA rules

C. Rules of the Municipal Securities Rulemaking Board

D. Internal Revenue Code

A. Prison sentence in a state facility

B. Prison sentence in a federal facility

C. Loss of the right to vote in a national election

D. Censure