Online Access Free SIE Practice Test

Which of the following is a reportable obligation with respect to an individual's Form U4?

• A.A change of business telephone number
• B.A change of residential address
• C.A speeding ticket
• D.A gambling-related misdemeanor charge

Which of the following responses best describes how member firms are required to retain electronic correspondence and internal communications of associated persons?

• A.In a non-rewriteable format
• B.In the firm's cloud storage
• C.On the firm's server
• D.In hard copy

A customer owns 100 shares of ABC with a current market value of $5.00 per share. The company undergoes a 1-for-2 reverse split of the stock. Which of the following statements is true of the customer's holdings and the price of the stock?

• A.The customer will have 200 shares at $2.50 per share.
• B.The customer will have 100 shares at $5.00 per share.
• C.The customer will have 50 shares at $10.00 per share.
• D.The customer will have 1,000 shares at $0.50 per share.

An investor generally purchases an open-end mutual fund from which of the following parties?

• A.The fund's custodian
• B.An existing shareholder
• C.The fund's underwriter
• D.The NYSE

The process in which the buying firm must pay for the securities and the selling firm must deliver the securities is known as:

• A.The settlement of the transaction
• B.Clearing the trade
• C.A delivery versus payment (DVP) transaction
• D.A corporate action