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FINRA SIE Exam Syllabus Topics:

Topic	Details
Topic 1	Overview of the Regulatory Framework: This section of the exam measures the skills of Compliance Officers and evaluates knowledge of self-regulatory organization (SRO) requirements, including registration and continuing education for associated persons. Candidates must understand the distinction between registered and non-registered individuals and the requirements for maintaining industry qualifications.
Topic 2	Market Structure: This section of the exam measures the skills of Equity Market Specialists and covers the classification of financial markets, including the primary, secondary, third, and fourth markets. Candidates must demonstrate knowledge of electronic trading, over-the-counter (OTC) markets, and physical exchanges. One specific skill tested is differentiating between various market types and their operational mechanisms.
Topic 3	Understanding Trading, Customer Accounts, and Prohibited Activities: This section of the exam measures the skills of Securities Traders and focuses on different trading strategies, settlement processes, and corporate actions. Candidates must demonstrate knowledge of order types, including market, limit, stop, and good-til-canceled orders, as well as bid-ask spreads and discretionary versus non-discretionary trading.

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FINRA SIE Latest Study Plan & Latest SIE Exam Discount

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FINRA Securities Industry Essentials Exam (SIE) Sample Questions (Q154-Q159):

NEW QUESTION # 154
A municipal securities dealer makes a political contribution of $990 to a local mayoral candidate. At the end of the quarter, to whom, if anyone, must the dealer report the contribution?

A. SEC
B. No disclosure required as the amount is below the reporting threshold
C. MSRB
D. FINRA

Answer: C

Explanation:
Step by Step Explanation:
* MSRB Rule G-37: Requires municipal securities dealers to report contributions to the MSRB, even if the amount is below the $1,000 threshold that would trigger a two-year prohibition on municipal business.
* Incorrect Options:
* SEC and FINRA: Not involved in reporting political contributions for municipal securities.
References:
* MSRB Rule G-37 (Political Contributions): MSRB Rule G-37.

NEW QUESTION # 155
Assuming yields are held constant, which of the following statements describes what will occur as a discount bond reaches maturity?

A. Its price decreases.
B. Its par value decreases.
C. Its price increases.
D. Its par value increases.

Answer: C

Explanation:
Step by Step Explanation:
* Discount Bonds: These are issued or traded below par value. Over time, their price moves closer to par as they approach maturity, assuming yields remain constant.
* Other Options:
* Par Value Changes: The par value of a bond does not change over time; only its price fluctuates.
References:
* SEC and FINRA Bond Basics: SEC Discount Bonds.

NEW QUESTION # 156
Which of the following responses best describes how member firms are required to retain electronic correspondence and internal communications of associated persons?

A. In hard copy
B. In the firm's cloud storage
C. On the firm's server
D. In a non-rewriteable format

Answer: D

Explanation:
FINRA Rule 4511 requires member firms to retain records, including electronic communications, in anon- rewriteable, non-erasable format(often referred to as WORM: Write Once, Read Many). This ensures that records cannot be altered or deleted once stored.
* D is correctbecause firms must store records in a tamper-proof format.
* A,B, andCare incorrect because these formats do not guarantee compliance with the tamper-proof requirements set forth by FINRA and the SEC.

NEW QUESTION # 157
A customer will be out of the country for the next two months on business and asks his firm to hold his mail until he returns. Which of the following statements is true regarding this request?

A. At the discretion of the RR, the firm is permitted to hold the customer's mail provided it takes reasonable actions to ensure no tampering occurs with this mail.
B. The firm must receive written instructions from the customer that include the time period for the requested mail hold.
C. The firm is prohibited from holding the customer's mail under FINRA rules due to the personal information contained.
D. The firm is permitted to hold the mail as long as the registered representative (RR) complies with the customer's oral instructions.

Answer: B

Explanation:
Step by Step Explanation:
* FINRA Rule 3150: Permits firms to hold customer mail only with written instructions specifying the duration, which cannot exceed three months unless there are exceptional circumstances.
* Incorrect Options:
* A: Holding mail is not prohibited if done in compliance with FINRA rules.
* C & D: Oral instructions or RR discretion are not sufficient; written authorization is mandatory.
References:
* FINRA Rule 3150 (Holding of Customer Mail): FINRA Rule 3150.

NEW QUESTION # 158
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. Each fund requires contributions of $100,000 to qualify for a breakpoint.
B. The customer will receive a sales charge discount on his next purchase after the account balance of the fund reaches $100,000.
C. The customer must sign a new letter of intent to receive the $100,000 breakpoint on the additional purchase.
D. The additional investment qualifies for a $100,000 breakpoint.

Answer: D

Explanation:
Step by Step Explanation:
* Right of Accumulation: Allows an investor to combine the value of existing investments within the same fund family to qualify for a breakpoint (reduced sales charge) on new purchases.
* Current Holdings: $80,000
* New Purchase: $50,000
* Total: $130,000, qualifying for the $100,000 breakpoint.
* Incorrect Options:
* B: Contributions from all funds within the same family can be aggregated.
* C: A new letter of intent is unnecessary; right of accumulation applies automatically.
* D: Discounts apply immediately, not retroactively.
References:
* FINRA Guidance on Breakpoints: FINRA Breakpoints.

NEW QUESTION # 159
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NEW SIE EXAM QUESTION - SIE LATEST STUDY PLAN

New SIE Exam Question - SIE Latest Study Plan