Free FINRA SIE Exam Questions

Become FINRA Certified with updated SIE exam questions and correct answers

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Total 166 Questions | Updated On: Mar 06, 2026

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Question 1

A registered representative (RR) at a member firm is the subject of a statutory disqualification. Which of the following statements is true?

A : The RR is prohibited from soliciting business but is permitted to accept unsolicited orders.

B : The RR is prohibited from any association or employment with a member firm unless he obtains a waiver.

C : The RR is prohibited from employment by a member firm in any registered capacity but is permitted to be employed in an unregistered capacity.

Answer: B

Question 2

A registered representative must complete which of the following activities when entering a discretionary trade?

A : Only exercise discretion over market orders

B : Indicate that discretion was exercised on the order ticket to be identified for supervisory review

C : Obtain authorization from the customer before each discretionary order is entered

D : Receive instructions from the customer as to the price at which to buy or sell a security

Answer: B

Question 3

A customer purchased $80,000 of Fund XYZ two years ago. He now wants to buy $50,000 of Fund LMN offered within the same fund family, which offers a $100,000 breakpoint under right of accumulation. Which of the following statements is true?

A : The additional investment qualifies for a $100,000 breakpoint.

B : Each fund requires contributions of $100,000 to qualify for a breakpoint.

C : The customer must sign a new letter of intent to receive the $100,000 breakpoint on the additional purchase.

D : The customer will receive a sales charge discount on his next purchase after the account balance of the fund reaches $100,000.

Answer: A

Question 4

Company ABC stock currently trades on an exchange. An ABC insider wants to sell a large number of shares of her privately held ABC stock. ABC files the necessary paperwork to register the shares, but the insider decides to wait and sell the stock at a later date. Which of the following terms best describes the type of offering that is occurring in this situation?

A : A rights offering

B : A private offering

C : An exempt offering

D : A secondary offering

Answer: D

Question 5

At a prospecting event, a registered representative (RR) provides cards for attendees to write down their contact information if they want to have a follow-up meeting with her. Which of the following actions should the RR take in this situation to comply with telemarketing rules?

A : Obtain the broker-dealer's approval before making a call

B : Limit contact with prospects to between 9 a.m. and 9 p.m.

C : Contact the prospects at will since they provided express written consent

D : Prior to contacting the prospects, check all of the names on the cards to make sure they are not on the National Do Not Call Registry

Answer: D

Page: 1 / 34

Total 166 Questions | Updated On: Mar 06, 2026

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