SIE Exam Question 314: Answer and Explanation

Question: 314

Which of the following is not an example of a restricted person under FINRA rules?

  • A. The brother-in-law of a restricted person
  • B. The child of a restricted person
  • C. The uncle of a restricted person
  • D. The spouse of a restricted person

Correct Answer: C

Explanation:

C - Restricted persons include immediate family members of restricted persons. Immediate family members under this rule include spouses, siblings, children, parents, and in-laws. Grandparents, aunts, uncles, cousins, and ex-spouses are not considered restricted persons and therefore can freely invest in IPOs.

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