FINRA SIE Practice Test 1

1. A registered principal or registered representative must retake the qualifying exam if his or her registration has been revoked or terminated for a period of ____________ or more.

2. An options contract that gives the holder the right to purchase the number of shares of the underlying security is a _________________.

3. What are the three General Telemarketing Requirements as stated in FINRA Rule 3230?

4. Excessive trading in a customer's account for no apparent reason other than to generate commissions is _______________.

5. Which of the following is not a prohibited activity?

6. Any material for use in any newspaper, magazine, or other public medium, or by radio, television, or telephone recording, is referred to as ___________________.

7. What is the minimum time period that may be used in material promoting past records of research recommendations in connection with purchases or sales?

8. Annual continuing education training provided by member firms is known as__________.

9. Which of the following items does not need to be reported on Form U4?

10. Which of the following statements are true with respect to options communications that include historical performance?

11. Which of the following is false regarding collateralized mortgage obligation (CMO) advertisements?

12. Which of the following items are required in a research report that contains ratings?

13. Which of the following written communications is considered a research report?

14. What is the limit of SIPC protection if a brokerage firm fails?

15. If a person has made lifetime gifts totaling $4,000,000 and dies in 2020, what is the amount that will be paid in taxes if the total remaining estate is $20,000,000?

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