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: Jun 05, 2025

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Question 1

On settlement date, a customer is unable to pay for a purchase in his cash account. His position is liquidated. Which of the following statements is true according to Federal Reserve Regulation T?

A : Only closing transactions are permitted.

B : The customer is barred from trading for 30 days.

C : The customer's account is frozen for 90 days.

D : All related accounts are frozen for 90 days.

Answer: C

Question 2

Which of the following statements is true regarding 529 savings plans?

A : 529 contributions are tax deductible in all states

B : There are income limitations for contributing to a 529 savings plan.

C : The account beneficiary has control over the assets in a 529 savings plan.

D : Assets are transferable to another 529 savings plan tax-free if the new beneficiary is a family member of the current beneficiary.

Answer: D

Question 3

Shares in a private investment in public equity (PIPE) offering are priced:

A : At the current market value per share.

B : Below the current market value per share.

C : Above the current market value per share.

D : At the public offering price (POP) as determined by the underwriters.

Answer: B

Question 4

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