Skip to content

FINRA Practice Tests
Practice Exams
- SIE
- Series 3
- Series 4
- Series 6
- Series 7
- Series 9
- Series 10
- Series 24
- Series 26
- Series 27
- Series 57
- Series 63
- Series 65
- Series 66
- Series 79
- Series 99

SIE – Practice Exam 15

Time limit: 0

Quiz Summary

0 of 10 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Exam complete. Results are being recorded.

Results

0 of 10 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Not categorized 0%

Next Exam Main Menu

Question 1 of 10

1. Question

A member firm suspects that financial exploitation of a senior customer has occurred. Under FINRA rules, the member firm should do all the following EXCEPT:

Require the customer to liquidate their assets to avoid potential losses
Correct Incorrect Correct answer

Place a temporary hold on disbursements from the customer’s account
Correct Incorrect Correct answer

Conduct further research and due diligence
Correct Incorrect Correct answer

Monitor the customer’s account for transactions that seem inconsistent with their historical activity
Correct Incorrect Correct answer

Correct

Incorrect
Question 2 of 10

2. Question

Prior to submitting a new registration application to FINRA, member firms are required to thoroughly investigate the prospective registered representative. Which of the following is a way the firm can accomplish this requirement?

Run a background check on the registered representative
Correct Incorrect Correct answer

Review the registered representative’s draft registration application for disclosures
Correct Incorrect Correct answer

Contact the registered representative’s prior employers
Correct Incorrect Correct answer

These are all ways a firm can investigate a prospective registered representative
Correct Incorrect Correct answer

Correct

Incorrect
Question 3 of 10

3. Question

The registration application that registered representatives submit to FINRA is known as the:

Form U4
Correct Incorrect Correct answer

Form BR
Correct Incorrect Correct answer

Form U5
Correct Incorrect Correct answer

Form BD
Correct Incorrect Correct answer

Correct

Incorrect
Question 4 of 10

4. Question
Which of the following scenarios is most likely to result in a statutory disqualification from FINRA registration?
1. A felony conviction for forgery from 3 years ago
2. A misdemeanor for driving with a suspended license from 2 years ago
3. A felony conviction for accounting fraud from 9 years ago
4. A misdemeanor for insider trading from 5 years ago
I and III
Correct Incorrect Correct answer

II and IV
Correct Incorrect Correct answer

I, III, and IV
Correct Incorrect Correct answer

I, II, III, and IV
Correct Incorrect Correct answer
Correct

Incorrect
Question 5 of 10

5. Question

Registered representative candidates are tested on their knowledge of blue-sky laws during which exam?

Securities Industry Essentials
Correct Incorrect Correct answer

Series 79
Correct Incorrect Correct answer

Series 63
Correct Incorrect Correct answer

Series 7
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 10

6. Question

Registered representatives are required to complete FINRA continuing education (also known as Regulatory Element continuing education):

Every 3 years
Correct Incorrect Correct answer

On an annual basis
Correct Incorrect Correct answer

Every 2 years
Correct Incorrect Correct answer

On a quarterly basis
Correct Incorrect Correct answer

Correct

Incorrect
Question 7 of 10

7. Question

Which of the following is most likely to occur after a registered representative files for bankruptcy?

The registered representative must be terminated by their firm via Form U5
Correct Incorrect Correct answer

The registered representative receives a statutory disqualification from FINRA registration
Correct Incorrect Correct answer

The registered representative must amend their U4 to disclose the bankruptcy
Correct Incorrect Correct answer

The registered representative takes no action since the bankruptcy is irrelevant to their FINRA registration
Correct Incorrect Correct answer

Correct

Incorrect
Question 8 of 10

8. Question

A broker-dealer reports false information on Form U5. All the following are possible consequences EXCEPT:

Felony charge
Correct Incorrect Correct answer

Monetary fine
Correct Incorrect Correct answer

Registration suspension
Correct Incorrect Correct answer

Disciplinary sanction
Correct Incorrect Correct answer

Correct

Incorrect
Question 9 of 10

9. Question
Which of the following is true about a registered representative who wishes to create a new LLC to provide financial modeling services?
1. The registered representative must provide written notice to their member firm immediately after starting the new outside business activity
2. The registered representative must provide written notice to their member firm prior to starting the new outside business activity
3. The registered representative must receive approval from their member firm prior to starting the new outside business activity
4. The registered representative must amend their Form U4 to disclose the new outside business activity
I and IV
Correct Incorrect Correct answer

II and IV
Correct Incorrect Correct answer

II and III
Correct Incorrect Correct answer

II, III, and IV
Correct Incorrect Correct answer
Correct

Incorrect
Question 10 of 10

10. Question
A registered representative notifies their member firm about a new private securities transaction for which they will receive compensation. If approved, the member firm must:
1. Provide written approval for the transaction to the registered representative
2. Supervise the transaction as if it were being executed on their behalf
3. Take a percentage of the registered representative’s compensation
4. Record the transaction on the firm’s books and records
I, II, and III
Correct Incorrect Correct answer

I, II, and IV
Correct Incorrect Correct answer

II, III, and IV
Correct Incorrect Correct answer

I, II, III, and IV
Correct Incorrect Correct answer
Correct

Incorrect

1
2
3
4
5
6
7
8
9
10

FINRA Practice Tests

FINRA®, SIE®, and Securities Industry Essentials® are trademarks of the Financial Industry Regulatory Authority (FINRA). This website is not affiliated with, endorsed by, or approved by FINRA. All trademarks are the property of their respective owners.

Practice Tests

SIE
Series 10
Series 63
Series 3
Series 24
Series 65
Series 4
Series 26
Series 66
Series 6
Series 27
Series 79
Series 7
Series 57
Series 99
Series 9

Quick Links

Home
About
Contact
Privacy Policy

Quiz Summary

Information

Results

Results

Categories

1. Question

A member firm suspects that financial exploitation of a senior customer has occurred. Under FINRA rules, the member firm should do all the following EXCEPT:

2. Question

Prior to submitting a new registration application to FINRA, member firms are required to thoroughly investigate the prospective registered representative. Which of the following is a way the firm can accomplish this requirement?

3. Question

The registration application that registered representatives submit to FINRA is known as the:

4. Question

Which of the following scenarios is most likely to result in a statutory disqualification from FINRA registration?

5. Question

Registered representative candidates are tested on their knowledge of blue-sky laws during which exam?

6. Question

Registered representatives are required to complete FINRA continuing education (also known as Regulatory Element continuing education):

7. Question

Which of the following is most likely to occur after a registered representative files for bankruptcy?

8. Question

A broker-dealer reports false information on Form U5. All the following are possible consequences EXCEPT:

9. Question

Which of the following is true about a registered representative who wishes to create a new LLC to provide financial modeling services?

10. Question

A registered representative notifies their member firm about a new private securities transaction for which they will receive compensation. If approved, the member firm must: