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SIE Practice Exam 15

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SIE Practice Exam 15

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Question 1 of 10

1. Question

When marketing and selling Section 529 College savings plans, agents should be sure to disclose

The tax treatment of the plan under state tax laws
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The tax treatment of the plan under Federal tax laws
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The minimum grade-point average required of the student under some plans
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Alternative ways to save for college tuition and expenses
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Question 2 of 10

2. Question

The Securities Investor Protection Corporation (SIPC) provides which of the following:

Insurance for customer accounts up to $ 500,000 for losses in market value
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Insurance coverage for institutional customers up to $ 500,000 in the event of brokerage firm bankruptcy
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Insurance cover for all customer accounts up to $500,000 per separate customer in the event of brokerage firm bankruptcy.
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Unlimited account insurance in the event of brokerage firm fraud.
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Question 3 of 10

3. Question

ADRs are securities instruments which do which of the following?

Enable foreign investors to purchase securities of US corporations
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Enable foreign investors to receive their dividends in US currency
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Enable US investors to trade securities on foreign exchanges
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Facilitate the trading of foreign stocks by investors in the US
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Question 4 of 10

4. Question

Of the investments shown below, only one trades daily at a price which is unrelated to its book value or its net asset value. Which one?

Open-end management investment company
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Closed-end management investment company
Correct Incorrect Correct answer

Hedge fund
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Option contracts traded on the CBOE
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Correct

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Question 5 of 10

5. Question

The Securities Act of 1933 requires corporate securities offerings to be registered with the Securities & Exchange Commission. However, not all corporate offerings must be registered. Which of the below qualify for the exemption under Regulation D of that Act?

Intrastate offerings
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Small offerings of stock under $50 million
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Offerings by emerging growth companies (EGC’s)
Correct Incorrect Correct answer

Private placements
Correct Incorrect Correct answer

Correct

Incorrect
Question 6 of 10

6. Question

When considering an investment in mortgage backed securities, you should disclose to your customer pre-payment risk. This risk is of greatest concern in what circumstances?

The Fed is tightening the money supply
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Inflation is rising
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Interest rates are declining
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The US dollar is strong
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Correct

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Question 7 of 10

7. Question

Choose from the following bond ratings the rating which is the highest rating accorded to speculative bonds under the Standard & Poors rating regime.

AAA
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BBB
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Ba1
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BB+
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Correct

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Question 8 of 10

8. Question

Non-traded Real Estate Investment Trusts involve an investment in a diverse portfolio of real estate properties. Which of the below statements are most correct?

REITs traded on the Exchange at bid and ask prices during trading hours.
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These REITs are suitable only for investors who do not have a need for liquidity
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These REITs are not registered with the SEC under the Act of 1933
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REITs can be included in the portfolios of certain open-end investment companies.
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Correct

Incorrect
Question 9 of 10

9. Question

Your client has expressed an interest in investing a substantial dollar amount into a mutual fund you’re recommending and inquires about ways to reduce the sales charge. You tell your client:

Investing at or above the breakpoint levels will qualify for sales charge reductions.
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Investments made by signing a Letter of Intent will qualify for sales charge reductions.
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The Letter of Intent requires investments be made within 13 months of the initial investment.
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All of the above are correct.
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Correct

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Question 10 of 10

10. Question

An equity put option is considered to have intrinsic value under what conditions?

The CMV of the stock is below the strike price
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The CMV of the stock is above the strike price
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The CMV of the stock is below the strike price by an amount that exceeds the premium paid by your client
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The CMV of the stock is above the strike price by an amount that exceeds the premium paid by your client.
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