Online Access Free SIE Practice Test

Which of the following disclosures is a municipal securities dealer required to provide its customers once every calendar year?

• A.The location and availability of the MSRB investor brochure
• B.The firm ' s address
• C.FINRA violations of all registered representatives
• D.The firm ' s financial standing

XYZ common stock is trading at $20 per share. An investor sells a call option with a $25 strike price for $3.
What is the price of XYZ at which the investor will break even with the transaction?

• A.$22
• B.$28
• C.$17
• D.$23

Which of the following applicants qualifies as an institutional account?

• A.An individual with total assets of $45 million
• B.Any bank, regardless of total assets
• C.A limited liability company with assets of $10 million
• D.A family office with total assets of $25 million

Which of the following characteristics is true of open-end mutual fund shares?

• A.They are purchased by investors directly from the fund or through a broker-dealer offering the fund.
• B.They are purchased by investors in the secondary market.
• C.They terminate and dissolve on an established date.
• D.Their price is calculated intra-day based on the changing market value of the fund.

A bond has a current market price of $1,000 and pays $25 every six months. What is the current yield of the bond?

• A.4.0%
• B.6.0%
• C.2.5%
• D.5.0%