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: Oct 28, 2025

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Question 1

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 2

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 3

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 4

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 5