SIE Exam: Securities Industry Essentials Exam Lessons and Information

son23 Securities Act of 1933 Quiz

This is and interview with Whistleblower Attorney Mark Pugsley while this is not information that is required for the SIE Exam I think you will be a more knowledgeable advisor if you are aware of the information contained in this interview.

Mark Pugsley is quite famous for his part in bringing down Milton Trevor of Nikola corporation.  He was featured prominently in the podcast BAD BETS

This is information about Mark Pugsley from his website

“Mark Pugsley has been handling securities disputes, financial fraud and whistleblower cases for 28 years. His whistleblower practice includes preparing and filing whistleblower tips with the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission (CFTC) and the Internal Revenue Service (IRS), he also handles False Claims Act or “Qui Tam” lawsuits, FINRA arbitrations and other types of investment disputes.

Mark is based in our Utah office, the state which boasts the largest number of Ponzi schemes per capita in the country. He has been recognized by Super Lawyers, Best Lawyers, Benchmark Plaintiffs, and Martindale Hubbell as one of the top securities lawyers in the country. He is licensed to practice law in Utah and California.

Mark represents whistleblowers in a number of high-profile ongoing cases, including the whistleblowers in the Washakie Renewable Energy scam in which executives pleaded guilty to criminal charges in a $1 billion biodiesel tax fraud scheme.  He also represents the whistleblowers in the Nikola Motors case who uncovered widespread fraud by the CEO, Trevor Milton.  The whistleblower report to the SEC in the Nikola case led to a $125 million settlement by the company with the SEC, and Mr. Milton was charged civilly and criminally with securities fraud, among other charges. Another of his whistleblower clients uncovered an ongoing $200 million Ponzi scheme that led to civil and criminal actions by the DOJ, SEC and State regulators.  These cases are ongoing.

Significant recoveries for his whistleblower, investment fraud and FINRA Arbitration clients include the following:

In addition to his whistleblower practice, Mark has been litigating securities disputes for his entire legal career. He has also handled many FINRA arbitration cases and frequently goes to court to pursue claims for victims of fraud.

Prior to founding the law firm of Pugsley & Wood, Mark was a shareholder at the law firm of Ray Quinney & Nebeker in Salt Lake City, where he worked for 23 years. Mark is a recognized expert in the area of securities fraud and has written and spoken extensively on whistleblower law, Ponzi schemes and affinity fraud for many years…..”

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 23 Securities Act of 1933 Quiz

Questions covered include

2. Which of the following is contained in a 10-K? (Select all that apply.)

3. The 10-Q is an audited financial report submitted quarterly to the Securities and Exchange Commission.

4. A ___ is filed if the company changes its name or there’s a 5% or greater change in the number of shares outstanding.

C. 15-B

5. Which of the following is required from the broker-dealers by the Securities Exchange Act of 1934?

6. Under ___, margins are regulated from brokers to their customers.

7. Broker-dealers are allowed to disclose to customers the routing of the customers’ orders.

8. It is a totally anonymous matching of buy and sell orders.

9. Which of the following are/were physical exchanges?

10. Which of the following is true about penny stocks?

11. The broker is not required to assess a penny stock buyer’s financial situation if the buyer is a/an ___.

12. It is trading on nonpublic material information on the company.

13. This is the catchall rule that prohibits anything fraud even if it is not specifically prohibited in the Securities Exchange Act of 1934.

14. For unlawful practices under the Securities Exchange Act of 1934, suits can be brought within ___ of discovery.

15. If a control person owns a position of a stock and he wants to lock in his profit or loss, he can ___.

16. Anybody that has nonpublic material information on the company is considered an insider.

17. In the United Sates, they are exempted from the rules that prohibit insider trading.

18. Insiders can trade on the material nonpublic information once the information has been made public.

19. Only the Securities and Exchange Commission can sue insider traders.

20. The statute of limitation for insider trading is ___.

 We hope you did well on this SIE Exam Lesson 23 Securities Act of 1933 Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 22 Annuities Quiz

Questions covered include

1. It is a contract wherein the buyer make payments and after some time, the insurance company will make a series of payments back to the buyer.

2. Which of the following is NOT true regarding the selling of an annuity contract?

3. The earnings on the accumulated funds in an annuity grow tax-deferred.

4. Annuity contracts are sold by investment advisors.

5. Insurance company accounting is quite different from generally accepted accounting principles.

6. Which is the correct formula for a combined ratio?

7. An insurance company had an insurance losses of $10 million, expenses of $3.5 million, and an earned premium of $9 million. What is the combined ratio?

8. An insurance company is paying out more money than it earns when the combined ratio is ___.

9. Which of the following is true about a long tail business?

10. In a variable annuity, the insurance company guarantees the annuitant a specific rate of return on his investment over a certain period of time.

11. In a fixed annuity, if interest rates are low, the offer of the insurance company would be ___.

12. In calculating how much a life annuity is going to pay an annuitant, an insurance company takes into consideration the annuitant’s ___.

13. It is an annuity wherein a beneficiary could still receive the monthly payments even if the owner of the annuity has already died.

14. Which of the following is true about joint and last survivor annuity? (Select all that apply.)

15. In a unit refund life annuity, if the annuitant and the beneficiary dies before receiving the total investment back, the annuitant’s estate gets a refund of ___.

16. Which of the following is true in an annuity that pays for a specified period of time?

17. In a variable annuity, which of the following is allowed as a choice of investment?

18. The rate of return on a variable annuity product is determined by ___.

19. With installments for a designated amount in a variable annuity, the annuitant receives a specific dollar amount until the principal expires.

20. Which of the following is true about a combined fixed and variable annuity?

 We hope you did well on this SIE Exam Lesson 22 Annuities Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 21 Unit Investment Trust Quiz

Questions covered include

1. It is a specific portfolio of bonds that is self-liquidating.

2. The unit investment trust is regulated by the Investment Company Act of 1940.

3. What is the implication of a unit investment trust being self-liquidating?

4. Which of the following is true about a unit investment trust which invests in fixed income investments?

5. A fixed income unit investment trust differs from an open-end mutual fund in such a way that ___.

6. A unit investment trust does not expand nor contract in size once issued.

7. Unit investment trusts can invest in ___.

8. The shares of beneficial interest in a unit investment trust can be redeemed prior to maturity.

9. A unit investment trust that invests in a master limited partnership will receive a ___ at the end of the year.

10. A trust invests in a closed-end fund. The fund’s net asset value is $28.74. It currently trades at $29.03. What is the percentage of the premium?

11. It is a unit investment trust used to fund variable annuities.

12. In a fixed income unit investment trust, if any of the bonds in the fund default, the principal that the investor would be getting back would ___.

13. A unit investment trust that invests in US government bonds that is held in maturity is NOT subject to ___.

14. What is the advantage of buying a unit investment trust that strictly invests in a master limited partnership (compared with a unit investment trust that invests in closed-end funds that invest in the same master limited partnership)?

15. These are risk-free investments.

16. When a unit investment trust closes, the investor can ___.

17. Rolling over into the next unit investment trust is a non-taxable event.

18. It is taking the proportion of the securities held in the trust when the unit investment trust closes.

19. The intention to receive in-kind distribution when the unit investment trust closes must be made known to the trust at least ___ days before the termination of the trust.

20. A large enough position is required before an investor can opt to receive in-kind distribution when the unit investment trust closes.

 We hope you did well on this SIE Exam Lesson 21 Unit Investment Trust Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 20 Mutual Funds pt 3 Quiz

Questions covered include

1. Which of the following is true about hedge funds?

2. What is the minimum capital for a hedge fund?

3. Which of the following is qualified as an accredited investor according to the Securities Act of 1933?

4. A business is qualified to be an accredited investor if all its equity owners are accredited investors.

5. A natural person can be an accredited investor if that person ___.

6. The performance of a hedge fund is always better than the market.

7. Which of the following strategies does a hedge fund employ?

8. A mutual fund’s annual and semiannual report has an income statement similar to a regular corporate income statement.

9. Which of the following can be found in a mutual fund’s income statement?

10. Which of the following is true about expense ratio?

11. If you’re buying a fund at a very big discount but has a very high expense ratio, the discount you’re buying those stocks may disappear.

12. An investment company should distribute at least ___ of its income in order to be regulated under the Investment Company Act of 1940.

13. If an investment company is not regulated under the Investment Company Act of 1940, ___.

14. Investment companies can pass through capital gains ___.

15. An investor buying a mutual fund at the end of the year will not be paying taxes if he has not made any money in the fund.

16. It is a type of mutual fund having a portfolio that is constructed to mimic the market index.

17. These funds are traded as regular stocks on the stock exchange, but move throughout the day.

18. As an investor in a fund or in a management company, you have the right to ___.

19. In an investment company, ___ of the directors must be non-interested.

20. In a dollar cost averaging, when the price of the stock goes up, ___.

 We hope you did well on this SIE Exam Lesson 20 Mutual Funds pt 3 Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 19 Mutual Funds pt 2 Quiz

Questions covered include

1. Which of the following is true about closed-end funds?

2. Which of the following details can be found on the website of the company that sponsors a closed-end fund?

3. It is the amount annually collected from the shareholders, which include all the operating cost of the fund.

4. If a closed-end fund has a very high expense ratio, one reason you might wish to buy the fund is because ___.

5. In financial industry, “Red Herring” refers to ___.

6. Which of the following is true about a preliminary prospectus?

7. One way that funds will get a higher return than the market average or a bigger loss than the market average is by leveraging their assets.

8. A fund is leveraged at 9.2%. If it has $80,000,000 in its assets, the portfolio would reflect a value of ___.

9. Leveraged funds enhance returns and outperform the market when stocks are going down.

10. A mutual fund or a management company must distribute their income ___.

11. A management company distributes its income in a form of ___.

12. These are capital gains that the management company must distribute at least on an annual basis.

A. capital yield

13. Dividend yield is the dividend that is paid out from the stocks that the management company owns and then passed through to the investors.

14. If you buy a closed-end fund before or close to the record date, your net asset value would decline by the amount of the distribution.

15. What would be a good reason for management companies to organize as master limited partnerships?

16. It is a tax document of a master limited partnership.

17. Why would a management company organize as a closed-end fund instead of an open-end fund?

18. A mutual fund held in another mutual fund would have double management fees.

19. The management fees of closed end funds ___.

20. Why would hedge funds acquire a big position in closed-end funds?

A. so that they can avoid the double taxation

 We hope you did well on this SIE Exam Lesson 19 Mutual Funds pt 2 Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 18 Mutual Funds pt 1 Quiz

Questions covered include

1. Which of the following is an example of a mutual fund?

2. Which of the following is an example of an income fund?

3. Which of the following is an example of an open-end fund?

4. Which of the following is a requirement in putting up an investment management company?

5. It is anybody who has the ability to sponsor the mutual fund.

6. It is the document which outlines everything that the client needs to know about the mutual fund.

7. Which of the following is contained in the prospectus?

8. The objectives of the fund is already fixed in the prospectus and can never be changed until all the funds are withdrawn.

9. Buying a mutual fund is buying a bond.

10. Mutual funds are not traded.

SIE Exam Lesson 18 Mutual Funds pt 1 Quiz cont.

11. Mutual funds allow the investor to switch within the family of funds with no sales charge.

12. In an open-end fund, there’s a one-time fee that the underwriter will get for selling the shares in that fund.

13. No load funds have no ___.

A. asking price

14. The maximum sales charge for loaded funds is ___.

15. If a loaded fund chooses to charge the maximum sales charge, it is also required to offer ___.

16. Which of the following is true about breakpoints?

17. The maximum length on the letter of intent is ___.

18. Which of the following is a characteristic of a diversified fund?

19. Which of the following is the ideal type of 12b-1 fund for long-term investors?

20. Which of the following mutual fund sales practices is prohibited by the Investment Company Act of 1940?

 We hope you did well on this SIE Exam Lesson 18 Mutual Funds pt 1 Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 17 Investment Company Act of 1940 Quiz

Questions covered include

2. A hedge fund is regulated by the Investment Company Act of 1940.

3. Which of the following is an obsolete investment?

4. Which of the following is NOT a characteristic of a face-amount certificate?

C. Its investor should pay a specific amount of money on a quarterly basis.

5. These were used back then as guarantee when there was no mortgage yet and a bank makes a loan to an individual (i.e. to buy a house).

6. Open-end and closed-end mutual funds are run by ___.

7. A closed-end fund is very similar to a new issue on a stock.

8. An open-end fund is a mutual fund where you buy an interest in a pool of securities at ___.

9. The net asset value of an open-end fund is calculated ___.

10. The net asset value of an open-end fund is the investor’s proportional interest in a basket of securities that are held by the mutual fund.

11. A unit investment trust has fixed portfolio for a specific set of time for a specific time period.

12. Which of the following is true about variable annuity?

 We hope you did well on this SIE Exam Lesson 17 Investment Company Act of 1940 Quiz

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 16 Options pt 6

Questions covered include

2. In a spread, when you close out one position, you are expected to close out the other position at the same time.

3. The longer the option, the higher the time value premium.

4. As an option approaches its expiration date, the time value on that option reaches its maximum value at the expiration of that option.

5. This spread is designed to try to capture the decline of an option’s time value as the option approaches its expiration date.

6. Which of the following is bearish?

7. The maximum profit for a long call spread is the net cost of the spread.

8. A short call spread is a credit spread.

9. You bought Jan 80 call at $10 and sold Feb 80 call at $20. Stock trades at $100 at expiration. Feb 80 call has $5 time value left. Which is true?

B. You shall buy back the February 80 call at $20.

10. You bought Nov 30 call at $3 and sold Dec 30 call at $5. Stock trades at $25 at Nov expiration. Dec 30 call has $1 time value left. Which is true?

11. You bought Mar 60 call at $5 and sold Apr 70 call at $3. This transaction is most probably a ___.

12. You initiated a long call spread by buying Sept 70 call at $10 and selling Oct 80 call at $5. What is your maximum profit in this transaction?

13. You initiated a long call spread by buying May 100 call at $15 and selling June 85 call at $8. What is your maximum loss in this transaction?

14. If you enter into a long call spread, which of the following pair of transactions would give you the greatest possible profit?

15. You initiated a short call spread by buying a Jan 40 call at $4 and selling a Feb 30 call at $7. What is your maximum profit in this transaction?

16. If you enter into a short call spread, which of the following transactions would you pair with buying a Nov 65 call at $6 to have the greatest possible profit?

C. selling a December 40 call at $9 per share

17. You entered into a long put spread by buying Aug 95 put at $15 and selling Sept 75 put at $9. Which of the following is true?

18. In a long put spread, you bought Apr 55 put at $6 and sold May 35 put at $3. If the stock trades at $60 at April expiration, which is true?

19. What’s your initial credit if you bought Oct 80 put at $9 and Nov 90 put at $13 both for a stock initially trading at $85?

20. In a short put spread, you bought June 60 put at $8 and sold July 75 put at $10. The stock trades at $70 at June expiration. Your net profit is:

 We hope you did well on this SIE Exam Lesson 16 Options pt 6

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf

SIE Exam Lesson 15 Options pt 5

Questions covered include

2. In a spread, when you close out one position, you are expected to close out the other position at the same time.

3. The longer the option, the higher the time value premium.

4. As an option approaches its expiration date, the time value on that option reaches its maximum value at the expiration of that option.

5. This spread is designed to try to capture the decline of an option’s time value as the option approaches its expiration date.

6. Which of the following is bearish?

7. The maximum profit for a long call spread is the net cost of the spread.

8. A short call spread is a credit spread.

9. You bought Jan 80 call at $10 and sold Feb 80 call at $20. Stock trades at $100 at expiration. Feb 80 call has $5 time value left. Which is true?

B. You shall buy back the February 80 call at $20.

10. You bought Nov 30 call at $3 and sold Dec 30 call at $5. Stock trades at $25 at Nov expiration. Dec 30 call has $1 time value left. Which is true?

11. You bought Mar 60 call at $5 and sold Apr 70 call at $3. This transaction is most probably a ___.

12. You initiated a long call spread by buying Sept 70 call at $10 and selling Oct 80 call at $5. What is your maximum profit in this transaction?

13. You initiated a long call spread by buying May 100 call at $15 and selling June 85 call at $8. What is your maximum loss in this transaction?

14. If you enter into a long call spread, which of the following pair of transactions would give you the greatest possible profit?

15. You initiated a short call spread by buying a Jan 40 call at $4 and selling a Feb 30 call at $7. What is your maximum profit in this transaction?

16. If you enter into a short call spread, which of the following transactions would you pair with buying a Nov 65 call at $6 to have the greatest possible profit?

C. selling a December 40 call at $9 per share

17. You entered into a long put spread by buying Aug 95 put at $15 and selling Sept 75 put at $9. Which of the following is true?

18. In a long put spread, you bought Apr 55 put at $6 and sold May 35 put at $3. If the stock trades at $60 at April expiration, which is true?

19. What’s your initial credit if you bought Oct 80 put at $9 and Nov 90 put at $13 both for a stock initially trading at $85?

20. In a short put spread, you bought June 60 put at $8 and sold July 75 put at $10. The stock trades at $70 at June expiration. Your net profit is:

 We hope you did well on this SIE Exam Lesson 15 Options pt 5

Total Course 37 hours 10 Min

37 hours 10 Min of audio instruction to help you prepare for the Securities Industry Essentials Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

59 Audio Lessons for Securities Industry Essentials Exam

13 Bonus Lessons about the finance industry

Securities Industry Essentials Exam Podcast Audio Lessons for the SIE Exam

All candidates now must now pass both the SIE exam (securities industry essentials exam) as well as the New Top-Off Series 7 Exam. A Series 7 candidate must also have an industry sponsor in order to take the examination to take the SIE Exam the candidate simply needs to be 18 years old and no broker affiliation is needed..

The New Series 7 Content Outline provides a comprehensive guide to the range of topics covered on the exam, as well as the depth of knowledge required. The outline is comprised of the four main job functions of a general securities representative. The table below lists the allocation of exam questions for each main job function.

The five job functions of the new Series 7 General Securities Representative Exam will be:

“Seeks business for the broker-dealer through customers and potential customers”

“Evaluates customers’ financial status, financial needs and risk tolerance, and helps them identify their investment objectives”

“Opens accounts, transfers assets and maintains appropriate account records”

“Provides customers with information on investments and makes suitable recommendations”

“Obtains and verifies customer’s purchase and sales instructions, enters orders and follows up”

These five functions of the new series 7 exam are the same or substantially similar to ones on the current Series 7 exam. A notable change from the existing Series 7 exam is the addition of evaluating customer “risk tolerance.”

https://www.finra.org/industry/series7

Here is a link to the table of Contents

—————————

New Series 7 Exam and SIE Exam details.

FINRA has announced major changes to the Series 7 Exam effective October 1, 2018. With the introduction of the Securities Industries Essentials Exam (SIE Exam) the new series 7 has been pared down to 125 questions from its original 250 questions.

https://www.finra.org/industry/series7

However there is now a prerequisite before taking the new Series 7 Exam all candidates now must have passed the SIE exam (securities industry essentials exam). In addition thing a series 7 candidate must also have an industry sponsor in order to take the examination.

“Securities Industry Essentials (SIE) Exam

https://www.finra.org/sites/default/files/Series_7_Content_Outline.pdf