Free SIE Exam Practice Test 41

1. How frequently will a mutual fund with a turnover ratio of 20% replace its total holdings?

2. All but which of the following are considered securities under the Uniform Securities Act?

3. When a bond is selling at a premium to par, the yield to maturity (YTM) will always be __________ the bond's coupon rate. If a bond is selling at a discount to par, the YTM will always be __________ the bond's coupon rate.

4. Which of the following elements of FINRA's Continuing Education Program focuses on compliance, ethical, and sales practice standards? Its content is derived from industry rules and regulations, and accepted standards and practices in the industry.

5. Which of the following imposed an obligation on the SEC to consider the impacts that any new regulation would have on competition, and empowered the SEC to establish a national market system and a system for nationwide clearing and settlement of securities transactions?

6. Congress has provided which of the following entities with the power to supervise self-regulatory organizations (SROs) as a matter of public interest?

7. Which of the following is required by the IRS if a taxpayer uses the substantially equal periodic payment (SEPP) exception to the premature distribution penalty?

8. Which of the following is a person who, for compensation, makes recommendations regarding securities, manages client accounts, and determines which advice regarding securities should be given?

9. A long stock position is considered __________, and a short stock position is considered __________.

10. Pete, an elderly business owner, is interested in establishing a retirement plan that will provide the greatest retirement benefit to himself. Which of the following plans should Pete select?

11. The S&P index has __________ risk.

12. Which of the following mutual fund share classes will charge investors a back-end load?

13. Which of the following provides an exemption from registration for public offerings and includes two offering tiers (Tier 1 and Tier 2)?

14. Which of the following is a requirement in which financial institutions need to verify the identity of individuals wishing to conduct financial transactions with them?

15. Which of the following forms of ownership allows an investor to own securities without a certificate?

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